Perez Construction Inc. provided the following information about the sale of property, plant, and equipment during two
Question:
Perez Construction Inc. provided the following information about the sale of property, plant, and equipment during two recent years:
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Required:
1. Determine the cash flow from the sale of equipment that would be reported in the investing activities section of the statement of cash flows for each year.
2. Perez uses the indirect method for the operating activities section of the statement of cash flows. What amounts related to the sale of equipment would be added or subtracted in the computation of net cash flows from operating activities for each year?
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Req 1 Gain loss on sale of equipment Cash received Carrying amount of e...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
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