Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-4) Creative Sound Systems sold investments, land, and its own common stock for $35.0 million

image text in transcribed
Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-4) Creative Sound Systems sold investments, land, and its own common stock for $35.0 million $15.5 million, and $41.0 million, respectively, Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.5 million, $25.5 million, and $12.5 million, respectively. What amount should the company report as net cash flows from investing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities Net cash flows from investing activities

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

More Books

Students also viewed these Accounting questions