Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I figured it out nevermind Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-3) Creative Sound Systems sold investments, land, and its own
I figured it out nevermind
Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-3) Creative Sound Systems sold investments, land, and its own common stock for $30 million, $15.0 million, and $40.0 million, respectively. Creative Sound Systems also purchased treasury stock equipment, and a patent for $21.0 million, $25.0 million, and $12.0 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. Enter your answer in millions. (i.e., $10,000,000 should be entered as 10).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities Sale of investments 30,000,000.0 15.000,000.0 Sale of land (25,000,000,0) (12,000,000.0) Purchase equipment Purchase a patent Net cash flows from investing activities + 8.000,000.0Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started