Ask Question
BusinessBusiness
15 May, 18:33

Five years ago, Lewis Equipment purchased equipment costing $212,000. Two years ago, the firm paid $32.000 for updates to that equipment. This year, the firm sold the equipment for $189.000.

Which of these cash flows is (are) cash inflows to Lewis Equipment? Click the answer you think is right

a.$212,000 original cost plus $32,000 in updates

b.$32,000 updates

c.$212,000 original cost

d.$189,000 sale price

+3
Answers (1)
  1. 15 May, 21:11
    0
    d.$189,000 sale price

    Explanation:

    Investing activities: It records operations that include buying and selling long-term properties. The buying is a cash outflow whereas the sale is a cash inflow.

    Since the equipment is sold this year for $189,000 that is to be reported in the investing activities under the cash flow statement. This amount should be recorded with a positive sign.

    The other information is not relevant.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Five years ago, Lewis Equipment purchased equipment costing $212,000. Two years ago, the firm paid $32.000 for updates to that equipment. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Menu costs refers to a. the distortion in incentives created by inflation when taxes do not adjust for inflation. b. resources used by people to maintain lower money holdings when inflation is high. c.
Answers (1)
Freya, a Certified Fraud Examiner (CFE) for Cole Inc., has conducted an examination into allegations of misconduct against Pilar, the company's controller.
Answers (1)
On July 1 of year 1, Elaine purchased a new home for $665,000. At the time of the purchase, it was estimated that the property tax bill on the home for the year would be $13,300 ($665,000 * 2%).
Answers (1)
One of the advantages of l2tp is that it provides a mechanism for encrypting the data being tunneled
Answers (1)
Assume that the economy is in long-run equilibrium with complete information and that input prices adjust rapidly to changes in the prices of goods and services.
Answers (1)
New Questions in Business
If the u. s. government increases the deficit and federal debt, what happens to the value of the u. s. dollar?
Answers (1)
Despite the failure of scientists to accurately predict the impact of climate change, the business community is responding vigorously to changes in the marketplace driven by stakeholder concern for environmental sustainability.
Answers (1)
Governments collect money through which of the following?
Answers (1)
Susan purchases goods by telephone from parker, Susan has never met parker, Brenton goes to Susan and pretends to be Parker. Susan draws a check payable to the order of Parker and gives the check to Brenton, believing him to be Parker.
Answers (1)
Your grandfather invested $1,000 in a stock 31 years ago. currently the value of his account is $319,000. what is his geometric return over this period?
Answers (1)
Home » Business » Five years ago, Lewis Equipment purchased equipment costing $212,000. Two years ago, the firm paid $32.000 for updates to that equipment. This year, the firm sold the equipment for $189.000.
Sign Up Forgot Password?