Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows:

Calculate cash flows from operations using the indirect method for 2019.

Question

Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows: 
 
 Calculate cash flows from operations using the indirect method for 2019.

Quizplus · Accepted Answer

The Answer of Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2019. No new notes payable were issued during the year. Financial data follows: 
 
 Calculate cash flows from operations using the indirect method for 2019.

Harmon Helmets Purchased Equipment for $62,000 Cash, Sold Equipment Costing