Question
Pinto Co's statement of financial position as of March 31, 2019 showed property, plant and equipment with a book value of $ 1,860,000. As of
Pinto Co's statement of financial position as of March 31, 2019 showed property, plant and equipment with a book value of $ 1,860,000. As of March 31, 2020 it had increased to $ 2,880,000.
During the year to March 31, 2020, a plant with a book value of $ 240,000 was sold at a loss of $ 90,000, a depreciation of $ 280,000 was charged, and $ 100,000 was added to the disclosure surplus regarding properties. , Plant and equipment.
What amount should appear under "investing activities" in Pinto Co's statement of cash flows for the year ended March 31, 2020 as cash paid to acquired property, plant and equipment?
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