Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 Creative Sound Systems sold investments, and, and its own common stock for $34.0 million $14.5 million, and $39.2 million, respectively. Creative Sound Systems also

image text in transcribed
2 Creative Sound Systems sold investments, and, and its own common stock for $34.0 million $14.5 million, and $39.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20,6 milion, $24.6 million, and $11.6 million, respectively, What amount should the company report as net cash flows from investing activities? (Liat cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (le, $10,100,000 should be entered as 10.11.-) Answer is not complete. CREATIVE SOUND SYSTEMS Statement of Cash Flows partial Cash flows from investing activities Sale of investments 34,000,000.0 Sale of land Purchase equipment 24.000.000.003 Purchase a patent OOOO Net cash flows from investng activities 58.800.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Development Of Integrated Reporting In The SME SectorCase Studies From European Countries

Authors: Joanna Dyczkowska, Andrea Szirmai Madarasine, Adriana Tiron-Tudor

1st Edition

3030819027, 9783030819026

More Books

Students also viewed these Accounting questions

Question

Which side has the stronger legal case on Count 1? Explain. LO4

Answered: 1 week ago

Question

Explain the steps involved in training programmes.

Answered: 1 week ago

Question

What are the need and importance of training ?

Answered: 1 week ago