During the year, Hockey Corporation sold equipment with a net book value of $6,200 for $9,400. It

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During the year, Hockey Corporation sold equipment with a net book value of $6,200 for $9,400. It also purchased equity securities for $8,700. Net income for the year is $23,500. There were no other transactions conducted during the period.

Requirements:

a. What is the gain or loss on the sale of equipment?

b. What are Hockey's operating and investing cash flows?

Use the indirect method.

Related Book For answer-question

Cost management a strategic approach

ISBN: 978-0073526942

5th edition

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

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Posted Date: Jan 13, 2021 06:35 AM

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During the year, Hockey Corporation sold equipment with a net book value of $6,200 for $9,400. It

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a Sale value of Equipment 9400 Book value of Equipment 6200 Gain on ... View the full answer

Cost management a strategic approach

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