In 2017,BayKing Company sold used equipment for $17,000.The equipment had an original cost of $80,000 and accumulated depreciation as of the date of sale was $60,000.BayKing also purchased held-for-maturity securities for $7,000.Net income for the year was $66,000 after deducting $8,000 in depreciation expense.There were no other transactions conducted during the period.What are the 2017 operating cash flows for BayKing?

Question

Quizplus · Accepted Answer

The Answer of In 2017,BayKing Company sold used equipment for $17,000.The equipment had an original cost of $80,000 and accumulated depreciation as of the date of sale was $60,000.BayKing also purchased held-for-maturity securities for $7,000.Net income for the year was $66,000 after deducting $8,000 in depreciation expense.There were no other transactions conducted during the period.What are the 2017 operating cash flows for BayKing?

In 2017,BayKing Company Sold Used Equipment for $17,000