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Calculate investing cash flows for the year

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Reference no: EM132612783

The following data relates to ABC Inc. for the year

Opening cost of equipment $ 600000

Opening accumulated depreciation of equipment $ 300000

Purchases of equipment during the year $ 360000

Gain or Loss (-) on sale of equipment $ -12000

Depreciation expense for the year $ 6000

Ending cost of equipment $ 111000

Ending accumulated depreciation of equipment $ 15000

There were no other transactions impacting long term assets during the year.

Question 1: Calculate Investing Cash Flows for the year.

Reference no: EM132612783

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