FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Indicate the effect each separate transaction has on investing
a. Sold a truck costing $40,000, with $22,000 of
results in a $10,000 loss.
b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale
results in a $3,000 gain.
c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least $30,000.
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- a. Equipment with a book value of $65,300 and an original cost of $133,000 was sold for $51,300. b. Paid $89,000 cash for a new truck. c. Sold land costing $154,000 for $198,000 cash. d. Long-term investments in stock were sold for $60,800 cash. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities $ 0arrow_forwardAM. 37.arrow_forwardMemanarrow_forward
- a. Equipment with a book value of $81,000 and an original cost of $167,000 was sold at a loss of $37,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $325,000 for $415,000 cash, yielding a gain of $90,000. d. Stock investments were sold for $97,000 cash, yielding a gain of $15,500. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities B F8 수 F9 4 F10 Coarrow_forwardSaved Help Creative Sound Systems sold investments, land, and its own common stock for $34 million, $14.6 million, and $39.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.6 million, $24.6 million, and $11.6 million, respectively. What amount should the company report as net cash flows from investing activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (I.e., $10,000,000 should be entered as 10).) 31 CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities nces ols Net cash flows from investing activities 2$ 0.0 pse Hill dtv 14 FIC %23 24 & 2 3 5 6. 9 W E Y A S F G H K C V alt command command option V * 00 Barrow_forwarda. Equipment with a book value of $82,000 and an original cost of $163,000 was sold at a loss of $31,000. b. Paid $112,000 cash for a new truck. c. Sold land costing $320,000 for $415,000 cash, yielding a gain of $95,000. d. Stock investments were sold for $90,700 cash, yielding a gain of $15,500. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activitiesarrow_forward
- Equipment with a book value of $78,500 and an original cost of $167,000 was sold at a loss of $36,000. Paid $118,000 cash for a new truck. Sold land costing $320,000 for $410,000 cash, yielding a gain of $ 90,000. Stock investments were sold for $96,300 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities.arrow_forwardCreative Sound Systems sold investments, land, and its own common stock for $40 million, $16 million, and $42 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $22 million, $26 million, and $13 million, respectively. What amount should the company report as net cash flows from investing activities?arrow_forwardCreative Sound Systems sold investments, land, and its own common stock for $36.0 million, $15.6 million, and $41.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.6 million, $25.6 million, and $12.6 million, respectively. What amount should the company report as net cash flows from investing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities Net cash flows from investing activities 0.0arrow_forward
- a. Equipment with a book value of $81,000 and an original cost of $165,000 was sold at a loss of $30,000. b. Paid $100,000 cash for a new truck. c. Sold land costing $315,000 for $420,000 cash, yielding a gain of $105,000. d. Stock Investments were sold for $95,600 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from investing activitiesarrow_forwardGet Answer please providearrow_forwardO On the Statement of Cash Flows a $5,000 gain on the sale of investements would be: Multiple Choice an addition to the Investing section a deduction from the Operating section a deduction from the Investing section an addition to the Financing sectionarrow_forward
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