Question
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
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 $13,900 with accumulated depreciation of $8,340 for $6,450. Orlando also reported a $1,100 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).
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