1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dvinal [7]
3 years ago
8

Cash flows from investing activities LO P3 Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a

loss of $14,000. Paid $89,000 cash for a new truck. Sold land costing $154,000 for $198,000 cash, yielding a gain of $44,000. Long-term investments in stock were sold for $60,800 cash, yielding a gain of $4,150.Use the above information to determine this company's cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Cash fows from investing activities
Business
1 answer:
bekas [8.4K]3 years ago
8 0

Answer:

$221,100

Explanation:

Given that,

Book value of equipment = $65,300

Sold at a loss = $14,000

Purchase of a new truck = $89,000

Sale of land = $198,000

Sale of Long term investment = $60,800

Cash flows from investing activities:

= Sale of Equipment - Purchase of a new truck + Sale of land + Sale of Long term investment

= ($65,300 - $14,000) - $89,000 + $198,000 + $60,800

= $51,300 - $89,000 + $198,000 + $60,800

= $221,100

You might be interested in
Sam​ Snead, the owner of​ Snead's Fine Golf​ Wear, used $1800 of his personal funds to go on vacation. Which of the following is
AveGali [126]

Answer:

D. Do not record the transaction in the general journal

Explanation:

There is no need to record the transaction in the general journal since the money that was actually spend by Sam Snead happens to be his own personal <em>fund rather than the company's fund (That is, the Golf Wear company). Funds belonging to the company are those that deserve to be recorded in the general journal.</em>

4 0
2 years ago
Finley Company
aleksley [76]

Answer:

d. debit Retained Earnings, $3,000; credit Dividends, $3,000.

Explanation:

The journal entry to close the dividend account should be

Retained earnings Dr $3,000

        To Dividend $3,000

(being the closing of the dividend account is recorded)

here the retained earning is debited as it decreased the stockholder equity and dividend is credited as it is closed

3 0
2 years ago
Nlg gers number yes 34 to yes
allsm [11]

Answer:

Umm what are u trying to get 34 to

8 0
3 years ago
On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation o
pashok25 [27]

Answer:

journal entry  are given below

carrying value = $4000 and cash received is $2000

Explanation:

given data

delivery van cost = $20,000

accumulated depreciation = $16,000

Annual depreciation  = $2,000

solution

journal entry  are

date                              title                                          debit          credit

December 29, 2019    Cash                                        $2000

                                   Accumulated depreciation      $16000

                                   Delivery van                                                  $20000

note that

here carrying value is = $20000 - $16000

carrying value = $4000

and cash received is $2000

7 0
2 years ago
How does unemployment rate help you determine if the economy is strong or weak
RoseWind [281]
If your unemployment rate is high, that means you're making less money in all. If many people are without jobs, that means your labor force is also weak. Your employers will make a lot of cutbacks. 
6 0
2 years ago
Other questions:
  • The distinction among managers in terms of authority and responsibility is expressed as chain-of-command.
    11·1 answer
  • WHY should families use active listening strategies?
    10·2 answers
  • What happens if you don't pay your insurance premium for your car?
    11·1 answer
  • If the money supply is high, interest rates will be
    8·1 answer
  • A company borrowed 10,000 by signing a 180-day promissory note 9%.the total interest due on the maturity date is: (use 360 days
    11·1 answer
  • The following information has been obtained from the Massena Corporation: 100,000 shares of common stock were outstanding on Jan
    7·1 answer
  • The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet: Picture Abrams,
    9·1 answer
  • Can you tell when someone you call is friendly before answering the phone?EXPLAIN
    12·1 answer
  • Self-management is about (1) knowing who you are and what you want to accomplish in your life, and (2) making these things happe
    13·1 answer
  • Which characteristic of an effective accounting information system refers to a system which works smoothly with the business’s e
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!