Xanthe Corporation had the following transactions occur in the current year: 1. Cash sale of merchandise inventory.

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Xanthe Corporation had the following transactions occur in the current year:

1. Cash sale of merchandise inventory.

2. Sale of delivery truck at book value.

3. Sale of Xanthe common stock for cash.

4. Issuance of a note payable to a bank for cash.

5. Sale of a security held as an available-for-sale investment.

6. Collection of loan receivable.

7. Purchase of manufacturing equipment for cash.

How many of the above items will appear as a cash inflow from investing activities on a statement of cash flows for the current year?

a. Five items.

b. Four items.

c. Three items.

d. Two items.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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Posted Date: Dec 31, 2018 10:57 AM

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Xanthe Corporation had the following transactions occur in the current year: 1. Cash sale of merchandise inventory.

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Cash flow from investing activities includes activities rel... View the full answer

Intermediate Accounting

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