Question
York, Inc. reported net income of $60,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,000 and a
York, Inc. reported net income of $60,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,000 and a gain on sale of equipment of $5,000. The equipment had an historical cost of $70,000 and accumulated depreciation of $50,000. Each of the following accounts increased during 2021:
Land $13,000
Prepaid rent $13,000
Available-for-sale securities $3,000
Bonds payable $10,000
What is the amount of cash provided by or used by investing activities for York, Inc. for the year ended December 31, 2021?
Orange Company reported net income of $500,000 for the year ended 12/31/21. Included in the computation of net income were: depreciation expense, $70,000; amortization of a patent, $30,000; income from an investment in common stock of ABC Inc., accounted for under the equity method, $50,000; and amortization of a bond discount, $10,000. Orange paid a $80,000 dividend during the year. The net cash provided by operating activities would be reported at?
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