Question
The following transactions occurred at Landmark Corporation in 2022. The company issued 10,000 shares of its own $1 par-value common stock for land with a
The following transactions occurred at Landmark Corporation in 2022. The company issued 10,000 shares of its own $1 par-value common stock for land with a fair market value of $10,000. The company gave its president a loan of $80,000 and obtained a 5 percent note receivable, dated December 22, 2022, and maturing two years later. The company sold a used truck for $8,500 in cash. The original cost of the truck was $29,000. Depreciation of $19,000 had been deducted. Required: Compute the companys net cash flow from investing activities. (Amounts to be deducted should be indicated with a minus sign.)
The following transactions occurred at Landmark Corporation in 2022. 1. The company issued 10,000 shares of its own $1 par-value common stock for land with a fair market value of $10,000. 2. The company gave its president a loan of $80,000 and obtained a 5 percent note receivable, dated December 22,2022 , and maturing two years later. 3. The company sold a used truck for $8,500 in cash. The original cost of the truck was $29,000. Depreciation of $19,000 had been deducted. Required: Compute the company's net cash flow from investing activities. (Amounts to be deducted should be indicated with a minus sign.)
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