Lincoln Helmets purchased equipment for $124,000 cash, sold equipment costing $72,000 with a book value of $44,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows:
Required:
Calculate cash flows from operations using the indirect method for 2019.

Question

Lincoln Helmets purchased equipment for $124,000 cash, sold equipment costing $72,000 with a book value of $44,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows: 
  Required:
Calculate cash flows from operations using the indirect method for 2019.

Quizplus · Accepted Answer

The Answer of Lincoln Helmets purchased equipment for $124,000 cash, sold equipment costing $72,000 with a book value of $44,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows: 
  Required:
Calculate cash flows from operations using the indirect method for 2019.

Lincoln Helmets Purchased Equipment for $124,000 Cash, Sold Equipment Costing