Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2018 Furniture 12/31/2019 $46,000 15,900 Accumulated depreciation Investment (long-term) $32,000 12,500 38,000 50,000 In addition, Orlando sold furniture costing $13,400 with accumulated depreciation of $10,050 for $3,890. Orlando also reported a $1,700 gain on the sale of longa term investments. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows) X Feedback Check My Work Set up T-accounts to determine activity in the furniture account Recreate the journal entry to determine the cash flow related to the long-term investment account Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2019 12/31/2018 Furniture $46,000 $32,000 Accumulated depreciation 15,900 12,500 Investment (long-term) 38,000 50,000 In addition, Orlando sold furniture costing $13,400 with accumulated depreciation of $10,050 for $3,890. Orlando also reported a $1,700 gain on the sale of long- term investments Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows). Feedback Check My Work Set up T-accounts to determine activity in the furniture account. Recreate the journal entry to determine the cash flow related to the long-term investment account Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2018 Furniture 12/31/2019 $46,000 15,900 Accumulated depreciation Investment (long-term) $32,000 12,500 38,000 50,000 In addition, Orlando sold furniture costing $13,400 with accumulated depreciation of $10,050 for $3,890. Orlando also reported a $1,700 gain on the sale of longa term investments. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows) X Feedback Check My Work Set up T-accounts to determine activity in the furniture account Recreate the journal entry to determine the cash flow related to the long-term investment account Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2019 12/31/2018 Furniture $46,000 $32,000 Accumulated depreciation 15,900 12,500 Investment (long-term) 38,000 50,000 In addition, Orlando sold furniture costing $13,400 with accumulated depreciation of $10,050 for $3,890. Orlando also reported a $1,700 gain on the sale of long- term investments Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows). Feedback Check My Work Set up T-accounts to determine activity in the furniture account. Recreate the journal entry to determine the cash flow related to the long-term investment account