Question
During 2017, Paxon Corporations long-term investments account (at cost) increased $15,000, which was the net result of purchasing stocks costing $80,000 and selling stocks costing
During 2017, Paxon Corporations long-term investments account (at cost) increased $15,000, which was the net result of purchasing stocks costing $80,000 and selling stocks costing $65,000 at a $6,000 loss. Also, its bonds payable account decreased $40,000, the net result of issuing $100,000 of bonds at $103,000 and retiring bonds with a face value (and book value) of $140,000 at a $9,000 gain. What items and amounts appear in the (a) cash flows from investing activities and (b) cash flows from financing activities sections of its 2017 statement of cash flows?
Use negative signs with answers, when appropriate.
Cash flows from investing activities | |
Purchase of stock investments | $Answer |
Sale of stock investments | $Answer |
Cash flows from financing activities | |
Issuance of bonds | $Answer |
Retirement of bonds | $Answer |
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