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Mandarinka [93]
3 years ago
11

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

<u>Cash flow from Operating Activities</u>

Loss on sale of equipment                                $22,125

Net Cash Provided by Operating Activities     $22,125

<u>Cash flow from Investing Activities</u>

Proceeds from sale of equipment                   $28,625

Purchase of equipment                                   ($64,000)

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

<u>Cash flow from Financing Activities</u>

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 :

  1. Cash flow from Operating Activities
  2. Cash flow from Investing Activities
  3. Cash flow from Financing Activities

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