Selected Information from Thompson Corporation Is Provided Below for the Years

question 82

Essay

Selected information from Thompson Corporation is provided below for the years ending December 31, 2017 and 2016.
$\begin{array}{lrr}&2017&2016\\\text { Accumulated depreciation } & \$ 41,000 & \$ 35,000 \\\text { Accounts payable } & 39,000 & 25,000\\\\\text { Equipment }&55,000&49,000\end{array}$
During 2017 depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 60% depreciated with an original cost of $26,000 was sold for a loss of $4,000. Prepare the investing activities section of the statement of cash flows.

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Definitions:

Latino

A person of Latin American origin or descent, often used interchangeably with Hispanic, although they have distinct definitions based on geography and culture.

Inequalities in Income

The uneven distribution of income within a population, leading to disparities in wealth, access to resources, and quality of life among different social and economic groups.

Inequalities in Wealth

The uneven distribution of assets, wealth, and income among individuals or across different groups in society.

Social Class Origins

The background or social status of an individual or group, often determined by wealth, occupation, education, or lineage.