Question

Tasman Trading Company issued common stock for $320,000 on the First day of 20X0. The company bought fixed assets for $175,000 cash and inventory for $75,000 cash. Late in the year, it sold fixed assets for cash equal to their book value of $20,000. It sold one-half the inventory for $55,000 cash during the year. On December 15, the company used excess cash of $65,000 to purchase common stock of Fellski Company, which Tasman regarded as a long-term investment.
Prepare a statement of cash flows from investing activities for Tasman Trading Company.



$1.99
Sales0
Views82
Comments0
  • CreatedFebruary 20, 2015
  • Files Included
Post your question
5000