Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise) a. A building with a book value of

image text in transcribed
image text in transcribed
Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise) a. A building with a book value of $419,000 was sold for $519,000 b. Additional common stock was issued for $179,000. c. Dristell purchased its own common stock as treasury stock at a cost of $84,500 d. Land was acquired by issuing a 6%,10-year, $769.000 note payable to the seller e A dividend of $59,000 was paid to shareholders: 1. An investment in Fleet Corporation's common stock was made for $139,000 9 New equipment was purchased for $74,500 h. A $99.500 note payable issued three years ago was paid in full i. A loan for $119,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months Required: Calculate net cash flows from investing activities. (Cash outfiows should be indicated with a minus sign.) Required: Calculate net cash flows from investing activities. (Cash outflows should be indicated with a minus sign.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions