The following information is from the noncurrent asset portion of Gomez Company's balance sheet.

The following activities occurred during 2013:
$\bullet$ Sold equipment with a book value of $6,000 (= $26,000 cost - $20,000 accumulated depreciation)for $16,000 cash.Depreciation expense for the year totaled $50,000.
$\bullet$ Purchased property for $80,000 cash.
$\bullet$ Purchased long-term investments for $24,000 cash.
(1)Prepare the investing activities

Question

The following information is from the noncurrent asset portion of Gomez Company's balance sheet.
  
The following activities occurred during 2013:
$\bullet$ Sold equipment with a book value of $6,000 (= $26,000 cost - $20,000 accumulated depreciation)for $16,000 cash.Depreciation expense for the year totaled $50,000.
$\bullet$ Purchased property for $80,000 cash.
$\bullet$ Purchased long-term investments for $24,000 cash.
(1)Prepare the investing activities

Quizplus · Accepted Answer

The Answer of The following information is from the noncurrent asset portion of Gomez Company's balance sheet.
  
The following activities occurred during 2013:
$\bullet$ Sold equipment with a book value of $6,000 (= $26,000 cost - $20,000 accumulated depreciation)for $16,000 cash.Depreciation expense for the year totaled $50,000.
$\bullet$ Purchased property for $80,000 cash.
$\bullet$ Purchased long-term investments for $24,000 cash.
(1)Prepare the investing activities

The Following Information Is from the Noncurrent Asset Portion of Gomez