Alp Inc. had the following activities during 20X1: Acquired 2,000 shares of stock in Maybel Inc.

Question:

Alp Inc. had the following activities during 20X1:

• 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 minority-passive stock investments.

Required:

In Alp’s 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities?

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Financial Reporting And Analysis

ISBN: 9781260247848

8th Edition

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

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Question Posted: Nov 13, 2020 02:01 AM

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Alp Inc. had the following activities during 20X1: Acquired 2,000 shares of stock in Maybel Inc.

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Purchase of stock in Maybel 26000 Sale of investment ...View the full answer

Financial Reporting And Analysis

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