Alp Inc. had the following activities during 20X1: Acquired 2,000 shares of stock in Maybel Inc.

Question:

Alp Inc. had the following activities during 20X1:

• Acquired 2,000 shares of stock in Maybel Inc. for $26,000.

• Sold an investment in Rate Motors for $35,000 when the carrying value was $33,000.

• Acquired a $50,000, four-year certificate of deposit from a bank. (During the year, interest of $3,750 was paid to Alp.)

• Collected dividends of $1,200 on minority-passive stock investments.

Required:

In Alp’s 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Reporting And Analysis

ISBN: 9781260247848

8th Edition

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

See More Books

Question Posted: Nov 13, 2020 02:01 AM

See More Questions

Alp Inc. had the following activities during 2017: Acquired 2,000 shares of stock in Maybel Inc. for $26,000. Sold an investment in Rate Motors for $35,000 when the carrying value was $33,000. ...
Alp Inc. had the following activities during 2014: Acquired 2,000 shares of stock in Maybel Inc. for $26,000. Sold an investment in Rate Motors for $35,000 when the carrying value was $33,000. ...
A condensed statement of cash flows for Apple Inc. for the year ended September 27, 2008, is shown here. Use it to answer the questions given after the statement. Requirements 1. What was Apples net...
Alistair bought a house on 1 April 2000 for 125,000 and occupied the entire house as his principal private residence until 1 November 2008. As from that date, he rented out two rooms (comprising...
Refer to the Radiation Protection Dosimetry (December 2010) study of radon exposure in tombs carved from limestone in the Egyptian Valley of Kings, Exercise 6.30. The radon levels in the inner...
In 2018, Caterpillar Inc. had about 595 million shares outstanding. Their book value was $23.00 per share, and the market price was $154.80 per share. The companys balance sheet shows that the...
For the revised propane refrigeration cycle in Figure 10.21, let the isentropic efficiencies of the turbine and compressor be 0.9 and 0.7 , respectively. Compute the following: (a) Lost work for the...
1. Dogswells marketing plans were ambitious, but were not working. What is their primary problem? 2. Would money from the new investors solve the problem? What other options do they have? Some small...
Prepare the statement ot cash flows for the current year ended December 3 1 , using the indirect method to report cash flows from operating activities. Indirect Method- Preparing a Statement of Cash...
Construct a cash flow diagram to find the present worth in year 0 at an interest rate of 15% per year for the following situation. Year Cash Flow, $ 0 .............. 19,000 14 .......... + 8,100
Excerpts from the financial statements of Stanley Black & Decker, Inc., follow. From Stanley Black & Deckers Accounts receivable note: Required: 1. Determine the difference between the change in...
Presented next are the balance sheet accounts of Bergen Corporation as of December 31, 20X1 and 20X0. Additional Information: On January 2, 20X1, Bergen sold all of its marketable investment...
Determine the covariance and correlation for the following joint probability distribution: x 1 0.5 0.5 1 y 2 1 1 2 fXY (x, y) 1/8 1/8
Let $I=\iint_{\mathcal{S}} \mathbf{F} \cdot d \mathbf{S}$, where \[ \mathbf{F}(x, y, z)=\left\langle\frac{2 y z}{r^{2}},-\frac{x z}{r^{2}},-\frac{x y}{r^{2}}ightangle \]...
Show that $\operatorname{curl}(\mathbf{F})=\mathbf{0}$ if $\mathbf{F}$ is radial, meaning that $\mathbf{F}=f(ho)\langle x, y, zangle$ for some function $f(ho)$, where...
Use the Divergence Theorem to evaluate the flux $\iint_{\mathcal{S}} \mathbf{F} \cdot d \mathbf{S}$. $\mathbf{F}(x, y, z)=\left\langle x^{2} z, y x, x y zightangle, \mathcal{S}$ is the boundary...
Explain briefly how auditing techniques have been affected by: (i) growth in the size of companies (ii) changes in technology.
Suppose that a nation has implemented a system for applying a tax rate of 2 percent to the incomes earned by the 10 percent of its residents with the highest incomes. All funds collected are then...
A certain radioactive substance has a half-life of 1 hour. If you start with 1 g of the material at noon, how much will be left at 3:00 PM? at 6:00 PM? at 10:00 PM?
Coastal Refining Company operates a refinery with a distillation capacity of 12,000 barrels per day. As a new member of Coastal's management team, you have been given the task of developing a...
On September 1, 2014, Revsine Co. approved a plan to dispose of a segment of its business. Revsine expected that the sale would occur on March 31, 2014, at an estimated gain of $350,000. The segment...
Classify the following costs as period or product costs. If a product cost, indicate which will be matched with sales as part of cost of goods sold and which will be shown as a direct deduction from...
The following information is provided for Kelly Plumbing Supply. Cash received from customers during December 2014 .............. $387,000 Cash paid to suppliers for inventory during December 2014...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter...
Provide documentation of a step by step training plan for a beta fish. What will be the primary reinforcer? How will you cue the behavior? What schedule of reminforcement will you use. What is the...
On May 1, Soriano Company reported the following account balances along with their estimated fair values: Items Carrying Amount Fair Value Receivables Inventory Copyrights Patented technology Total...

Alp Inc. had the following activities during 20X1: Acquired 2,000 shares of stock in Maybel Inc.

Question:

Step by Step Answer:

Purchase of stock in Maybel 26000 Sale of investment ...View the full answer

Financial Reporting And Analysis

Students also viewed these Business questions