ACC 560 help A Guide to career/uophelp.com ACC 560 help A Guide to career/uophelp.com | Page 75

If a gain of $12,000 is incurred in selling (for cash) office equipment
having a book value of $110,000, the total amount reported in the cash
flows from investing activities section of the statement of cash flows is
Question 5
Which of the following would not be an adjustment to net income using
the indirect method?
Question 6
Jean’s Vegetable Market had the following transactions during 2017:
1. Issued $50,000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $22,000.
3. Acquired land by issuing common stock of par value $50,000.
4. Declared and paid a cash dividend of $7,000.
5. Sold a long-term