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QUESTION 14 Use the following company information to calculate net cash provided or used by investing activities: (1) Equipment with a book value of $87
QUESTION 14 Use the following company information to calculate net cash provided or used by investing activities: (1) Equipment with a book value of $87.500 and an original cost of $150 000 was sold at a loss of $8.500. (2) Pald 531,000 cash for a new truck. 3) Sold land costing S16,000 for $18,000 cash, realizing a $2.000 gain, (4) Purchased treasury stock for $30.500 cash. (5) Long-term investments in stock are sold for $20.500 cash realizing a gain of $1.750. D A $56.000 cash provided by investing activities
Expert Solution
|
Net cash provided or used by investing activities |
|
|
Equipment sold at a loss ($87500 - $8500) |
$79000 |
|
Paid cash for new truck |
($31000) |
|
Sold land |
$18000 |
|
Long term investment in stock are sold |
$20500 |
|
Net cash provided or used by investing activities |
$86500 |
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