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Describe the indirect method of reporting cash flows

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Question: 1. Use the following information to determine this company's cash flows from investing activities.

a. Sold land costing $315,000 for $400,000 cash, yielding a gain of $15,000.

b. Paid $106,000 cash for a new truck.

c. Equipment with a book value of $80,500 and an original cost of $165,000 was sold at a loss of $34,000.

d. Long-term investments in stock were sold for $94,700 cash, yielding a gain of $15,750.

2. Describe the indirect method of reporting cash flows from operating activities.

Reference no: EM131535707

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