Author Question: During the current year, ABC Corporation did not purchase any property, plant and equipment, but ... (Read 29 times)

ahunt13 · **on:** Feb 5, 2023

Question 1

During the current year, XYZ Corporation purchased land for $5,000 and sold a piece of factory machinery with a book value of $15,000 for $12,000 cash. What is XYZ's net cash flows provided by investing activities for the year?
◦ $7,000
◦ ($7,000)
◦ $10,000
◦ ($10,000)

Question 2

During the current year, ABC Corporation did not purchase any property, plant and equipment, but sold land with a book value of $6,000 for $12,000 cash and sold a delivery truck with a cost of $18,000, depreciation of $16,000, and an appraised value of $5,000 for $4,000. What is ABC's net cash flows provided by investing activities for the year?
◦ $8,000
◦ $24,000
◦ $16,000
◦ $11,000

kaelamcrone · **Reply #1 on:** Feb 5, 2023

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