Question
Investing and Financing Cash Flows During the year, Paxon Corporations LongTerm Investments account (at cost) increased $25,000, the net result of purchasing stocks costing $90,000
Investing and Financing Cash Flows During the year, Paxon Corporations LongTerm Investments account (at cost) increased $25,000, the net result of purchasing stocks costing $90,000 and selling stocks costing $65,000 at a $7,000 loss. Also, the Bonds Payable account decreased by $35,000, the net result of issuing $100,000 of bonds at 104 and retiring bonds with a face value (and book value) of $135,000 at a $9,000 gain. What items and amounts will appear in the (a) cash flows from investing activities and the (b) cash flows from financing activities sections of Paxons statement of cash flows? Use a negative sign with cash outflow answers.
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