Question
During 20X1, Craig Company had the following transactions: Purchased $199,500 of 10-year bonds issued by Makenzie Inc. Acquired land valued at $69,500 in exchange for
During 20X1, Craig Company had the following transactions:
- Purchased $199,500 of 10-year bonds issued by Makenzie Inc.
- Acquired land valued at $69,500 in exchange for machinery.
- Sold equipment with original cost of $540,600 for $329,300; accumulated depreciation taken on the equipment to the point of sale was $180,600.
- Purchased new machinery for $120,100.
- Purchased common stock in Lemmons Company for $54,400.
Required:
1. Prepare the net cash from investing activities section of the statement of cash flows. (Note: Use a minus sign to indicate any decreases in cash or cash outflows.)
| Craig Company | |
| Statement of Cash Flows (Partial) | |
| Year Ending December 31, 20X1 | |
| Cash flows from investing activities: | |
| Purchase of bonds | |
| Sale of equipment | |
| Purchase of new machinery | |
| Purchase of common stock | |
| Net cash from investing activities | |
| Noncash investing activity: | |
| Land in exchange for machinery | |
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
