Question
The following information is from the noncurrent asset portion of Randle Companys balance sheet. December 31 2013 2012 Property, plant, and equipment $140,000 $125,000 Accumulated
The following information is from the noncurrent asset portion of Randle Companys balance sheet. December 31 2013 2012 Property, plant, and equipment $140,000 $125,000 Accumulated depreciation (69,500) (57,000) Long-term investments 27,000 15,000 The following activities occurred during 2013:
Sold equipment with an original cost of $8,000 and a book value of $2,500 for $2,000 cash.
Depreciation expense for the year totaled $18,000.
Purchased property for $23,000 cash.
Purchased long-term investments for $12,000 cash.
What is the amount of cash used by investing activities?
$27,000 |
$51,000 |
$33,000 |
$14,500 |
None of the answer choices is correct. |
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