Using the information provided below, determine the amount of cash flow provided or used from investing: .................................................2017........................................
Question:
Using the information provided below, determine the amount of cash flow provided or used from investing:
.................................................2017........................................ 2016
Marketable Securities..................26,000........................................13,000
Plant equipment..........................88,000........................................70,000
Accumulated depreciation............(20,000).....................................(12,000)
Mortgage payable........................60,000.......................................50,000
Common stock............................35,000.......................................15,000
Retained earnings........................76,000.......................................60,000
Additional information:
Purchased plant assets for 36,000 by issuing $ 6000 in common stock and paying the remainder in cash. In addition, sold plant assets receiving a gain of $ 1000. Depreciation expense was $ 3,000. Net income is $ 20,000.
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones