Question
In preparing its statement of cash flows for the year ended December 31, 2019, Coronado Company collected the following data: 12/31/19 12/31/18 Increase (Decrease) Land
In preparing its statement of cash flows for the year ended December 31, 2019, Coronado Company collected the following data:
12/31/19
12/31/18
Increase (Decrease)
Land
$640,000
$700,000
$ (60,000)
Equipment
250,000
100,000
150,000
Accumulated Depreciation
105,000
65,000
40,000
Bonds Payable
175,000
245,000
(70,000)
Additional information:
1. In 2019, net income was $100,000 and depreciation expense was $40,000.
2. Land was sold at book value for $60,000 cash.
3. Equipment was purchased for $150,000 cash.
4. No equipment was sold during the year.
5. Bonds payable principal of $70,000 was redeemed for cash.
The net cash provided (used) by investing activities in 2019 is
In preparing its statement of cash flows for the year ended December 31, 2019, Coronado Company collected the following data:
| 12/31/19 | 12/31/18 | Increase (Decrease) |
Land | $640,000 | $700,000 | $ (60,000) |
Equipment | 250,000 | 100,000 | 150,000 |
Accumulated Depreciation | 105,000 | 65,000 | 40,000 |
Bonds Payable | 175,000 | 245,000 | (70,000) |
Additional information:
1. In 2019, net income was $100,000 and depreciation expense was $40,000.
2. Land was sold at book value for $60,000 cash.
3. Equipment was purchased for $150,000 cash.
4. No equipment was sold during the year.
5. Bonds payable principal of $70,000 was redeemed for cash.
The net cash provided (used) by investing activities in 2019 is
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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