
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus
sign.)
a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8,000 cash. The sale 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.
Cash flows from investing activities
$
0
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