Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 12 1 points During the year, Company AA had the following changes in account balances: 1) The Accumulated Depreciation account had a beginning balance

image text in transcribed

Question 12 1 points During the year, Company AA had the following changes in account balances: 1) The Accumulated Depreciation account had a beginning balance of $25,200 and an ending balance of $35,400. The increase was due to depreciation expense. 2) The long-term Notes Payable account had a beginning balance of $40,400 and an ending balance of $15,200. The decrease was due to repayment of debt. 3) The Accounts Receivable account had a beginning balance of $60,200 and an ending balance of $50,200. 4) The Equipment account had a beginning balance of $25,400 and an ending balance of $93,500. The increase was due to the purchase of equipment for cash. 5) The Long-Term Investments account (marketable securities) had a beginning balance of $18,800 and an ending balance of $12,900. The decrease was due to the sale of investments at cost. 6) The amount of cash dividends declared and paid during the year was $26,000. 7) The Interest Payable account had a beginning balance of $2650 and an ending balance of $1650. What is the net cash flow from investing activities? $72,400 inflow $62,200 inflow $72,400 outflow O $62,200 outflow

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services An Applied Approach

Authors: Iris Stuart

1st edition

73404004, 978-0073404004

More Books

Students also viewed these Accounting questions

Question

Which of the following will not contribute to network hardening?

Answered: 1 week ago

Question

Explain the development of human resource management (HRM)

Answered: 1 week ago