The following information applies to the questions displayed below During two recent years Perez Construction,...
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The following information applies to the questions displayed below During two recent years Perez Construction, Inc., disposed of the following plant and equipment: Year 2 $76,800 17100 5,573 15,763 Year 1 Plant and equipment (at cos) Accumulated depreciation on equipment disposed of Cash received 43,985 21,464 Gain (loss) on sale value 0.50 points 1. Determine the cash flow from the sale of property for each year that would be reported in the investing activities section of the cash flow statement. (Cash outflows should be indicated with a minus sign) Year 1 Year 2 PEREZ CONSTRUCTION, INC., Cash flows from investing activities Required information 0.50 points 2. Perez uses the indirect method for the operating activities section of the cash flow statement. What amounts related to the sales would be added or subtracted in the computation of Net Cash Flows from Operating Activities for each year? (Amounts to be deducted should be indicated with a minus sign.) PEREZC Cash flows from operating activities
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