Selected information from Thompson Corporation is provided below for the years ending December 31, 2017 and 2016.
$\begin{array}{lrr}
&2017&2016\
\text { Accumulated depreciation } & \$ 41,000 & \$ 35,000 \
\text { Accounts payable } & 39,000 & 25,000\\
\text { Equipment }&55,000&49,000
\end{array}$
During 2017 depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 60% depreciated with an original cost of $26,000 was sold for a loss of $4,000. Prepare the investing activities section of the statement of cash flows.

Question

Selected information from Thompson Corporation is provided below for the years ending December 31, 2017 and 2016.
 $\begin{array}{lrr}
&2017&2016\
\text { Accumulated depreciation } & \$ 41,000 & \$ 35,000 \
\text { Accounts payable } & 39,000 & 25,000\\
\text { Equipment }&55,000&49,000
\end{array}$ 
During 2017 depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 60% depreciated with an original cost of $26,000 was sold for a loss of $4,000. Prepare the investing activities section of the statement of cash flows.

Quizplus · Accepted Answer

The Answer of Selected information from Thompson Corporation is provided below for the years ending December 31, 2017 and 2016.
 $\begin{array}{lrr}
&2017&2016\
\text { Accumulated depreciation } & \$ 41,000 & \$ 35,000 \
\text { Accounts payable } & 39,000 & 25,000\\
\text { Equipment }&55,000&49,000
\end{array}$ 
During 2017 depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 60% depreciated with an original cost of $26,000 was sold for a loss of $4,000. Prepare the investing activities section of the statement of cash flows.

Selected Information from Thompson Corporation Is Provided Below for the Years