The following transactions occurred at Lookout Corporation in 2016. Use this information to compute the company's net

Question:

The following transactions occurred at Lookout Corporation in 2016. Use this information to compute the company's net cash flow from investing activities.

1. The company issued 10,000 shares of its own $5 par-value common stock for land with a fair market value of $50,000.

2. The company gave its president a loan of $85,000 and obtained a 10 percent note receivable, dated December 22, 2016, and maturing two years later.

3. The company sold a used truck for $9,000 in cash. The original cost of the truck was $34,000. Depreciation of $24,000 had been deducted.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...