Early in Year 1, Larsen Corporation purchased marketable securities at a cost of $83,000. In September, dividends of $5,900 were received; Larsen sold the securities in December at a gain of $4,900. How would these transactions be reported on Larsen's statement of cash flows for Year 1? Group of answer choices $78,100 net cash used in investing activities; $87,900 cash provided by investing activities. $87,900 cash provided by investing activities; $83,000 cash used in financing activities. $4,900 net cash provided by investing activities; $5,900 included in cash provided by operating activities.

Early in Year 1, Larsen Corporation purchased marketable securities at a cost of $83,000. In September, dividends of $5,900 were received; Larsen sold the securities in December at a gain of $4,900. How would these transactions be reported on Larsen's statement of cash flows for Year 1? Group of answer choices $78,100 net cash used in investing activities; $87,900 cash provided by investing activities. $87,900 cash provided by investing activities; $83,000 cash used in financing activities. $4,900 net cash provided by investing activities; $5,900 included in cash provided by operating activities.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 55PSA

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