Davis Inc. reported the following information for equipment: In addition, Davis sold equipment costing $12,500 with accumulated

Question:

Davis Inc. reported the following information for equipment:

In addition, Davis sold equipment costing $12,500 with accumulated depreciation of $8,150 for $3,800 cash, producing a $550 loss. Davis reported net income for 2011 of $122,350.

Required:
Compute net cash flow from investing activities.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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Question Posted: Sep 22, 2015 03:19 AM

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Davis Inc. reported the following information for equipment: In addition, Davis sold equipment costing $12,500 with accumulated

Question:

12/31/2011 $160,000 (85,000) 18,610 12/31/2010 Equipment Accumulated depreciation Long-term investment $115,000 (59,000) 10,000

Step by Step Answer:

Cash flow from investing activities Cash paid for equipment57500 Disposal of equipment 3800 ...View the full answer

Cornerstones of Financial and Managerial Accounting

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