Davis Inc. reported the following information for equipment: In addition, Davis sold equipment costing $10,000 with accumulated

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Davis Inc. reported the following information for equipment:

In addition, Davis sold equipment costing $10,000 with accumulated depreciation of $8,000 for $2,200 cash, producing a $200 gain. Davis reported net income for 2009 of $110,000.

Required:
Compute net cash flow from investingactivities.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

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Authors: Rich Jones, Mowen, Hansen, Heitger

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Question Posted: Jul 23, 2012 02:23 AM

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Davis Inc. reported the following information for equipment: In addition, Davis sold equipment costing $10,000 with accumulated

Question:

12/31/2009 12/31/2008 $160,000 $115,000 Equipment Accumulated depreciation Long-term investment (85,000) 10,000 (59,000) 14,600

Step by Step Answer:

Cash flow from investing activities Cash paid for equipment 55000 Sale of ...View the full answer

Cornerstones of Financial and Managerial Accounting

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