Exercise 16-7 Cash flows from investing activities LO P3 a. Equipment with a boo

Question

Exercise 16-7 Cash flows from investing activities LO P3 a. Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000. b. Paid $89,000 cash for a new truck. c. Sold land costing $154,000 for $198,000 cash, yielding a gain of $44,000 d. 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

Explanation / Answer

Cash flows from investing activities: Sale of Equipment ($65,300 - $14,000) $51,300 Purchase of a new truck ($89,000) Sale of land $198,000 Sale of Long term investment $60,800 Cash flows from investing activities $221,100

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