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(Solved): In 2018, Anderson Company Purchased Equipment For $365,000 And Also Sold Some Special Purpose Machin...


in 2018, Anderson Company purchased equipment for $365,000 and also sold some special purpose machinery with a book value of $155,800 for $183,000. In its statement of cash flows for 2018, Anderson should report the following with respect to the above transactions:

  • $182,000 net cash used by investing activities; $27,200 net cash provided by operating activities.

  • $182,000 net cash used by investing activities.

  • $365,000 net cash used by investing activities.

  • $365,000 cash used by investing activities; $183,000 cash provided by financing activities.

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Ans. Option 2nd Explanation: Sale and purchase transactions of fixed assets (Equipment and Machinery) are listed under Investing activity section of c
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