Alp Inc. had the following activities during 2017: Acquired 2,000 shares of stock in Maybel Inc.
Question:
∙ 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 stock investments.
Required:
In Alp's 2017 statement of cash flows, what amount would be shown for net cash used in investing activities?
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Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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