Using financial statement data to determine cash flow from investing activities The following information pertaining to investing
Question:
Using financial statement data to determine cash flow from investing activities The following information pertaining to investing activities is available for Leach Company for 2005:
Other Information for 2005 1. Marketable securities were sold at book value. No gain or loss was recognized.
2. Machinery was purchased for $120,000. Old machinery with a book value of $5,000 (cost of $25,000, accumulated depreciation of $20,000) was sold for $8,000.
3. No land was sold during the year.
Required
a. Compute the net cash flow from investing activities.
b. Prepare the cash flow from investing activities section of the statement of cash flows.
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 9780073526799
4th Edition
Authors: Thomas Edmonds, Bor-Yi Tsay, Philip Olds
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