Jarvis, Inc.reported net income of $34,000 for the year ended December 31, 2011 Included in net income were depreciation expense of $8,400 and a gain on sale of equipment of $1,700.The equipment had an historical cost of $40,000 and accumulated depreciation of $24,000.Each of the following accounts increased during 2011:

What is the amount of cash provided by or used by investing activities for Jarvis, Inc.for the year ended December 31, 2011?

Question

Jarvis, Inc.reported net income of $34,000 for the year ended December 31, 2011 Included in net income were depreciation expense of $8,400 and a gain on sale of equipment of $1,700.The equipment had an historical cost of $40,000 and accumulated depreciation of $24,000.Each of the following accounts increased during 2011:

What is the amount of cash provided by or used by investing activities for Jarvis, Inc.for the year ended December 31, 2011?

Quizplus · Accepted Answer

The Answer of Jarvis, Inc.reported net income of $34,000 for the year ended December 31, 2011 Included in net income were depreciation expense of $8,400 and a gain on sale of equipment of $1,700.The equipment had an historical cost of $40,000 and accumulated depreciation of $24,000.Each of the following accounts increased during 2011:

What is the amount of cash provided by or used by investing activities for Jarvis, Inc.for the year ended December 31, 2011?