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3 years ago

A.The loss on the cash sale of equipment was $22,125 (details in b).

Business

1 answer:

slamgirl [31]3 years ago

3 0

Answer:

Statement of cash flows for the year

Cash flow from Operating Activities

Loss on sale of equipment $22,125

Net Cash Provided by Operating Activities $22,125

Cash flow from Investing Activities

Proceeds from sale of equipment $28,625

Purchase of equipment ($64,000)

Net Cash used by investing activities ($35,375)

Cash flow from Financing Activities

Note Payable Issued $5,700

Repayment of Note Payable ($58,625)

Issue of Common Stock $84,000

Cash Dividends Paid ($53,500)

Net Cash used by Financing activities ($22,425)

Explanation:

Statement of cash flows for the year shows results of cash resulting from the following activities :

Cash flow from Operating Activities
Cash flow from Investing Activities
Cash flow from Financing Activities

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