Gee Company’s accounting records and financial statements reported the following:Cash paid to acquire machinery $70,000Proceeds from sale of land 80,000Loss from the sale of land 5,000Cash paid to acquire a trademark 38,000Treasury stock purchased for cash 50,000Dividend revenue received 20,000Gee prepares its financial statements in accordance with IFRS. In its statement of cash flows, Gee most likelyreports net cash outflows from investing activities ofa. $ 8,000.b. $11,000.c. $28,000.d. $33,000.
Gee Company’s accounting records and financial statements reported the following:Cash paid to acquire machinery $70,000Proceeds from sale of land 80,000Loss from the sale of land 5,000Cash paid to acquire a trademark 38,000Treasury stock purchased for cash 50,000Dividend revenue received 20,000Gee prepares its financial statements in accordance with IFRS. In its statement of cash flows, Gee most likelyreports net cash outflows from investing activities ofa. $ 8,000.b. $11,000.c. $28,000.d. $33,000.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 48P
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Question
Gee Company’s accounting records and financial statements reported the following:
Cash paid to acquire machinery $70,000
Proceeds from sale of land 80,000
Loss from the sale of land 5,000
Cash paid to acquire a trademark 38,000
Dividend revenue received 20,000
Gee prepares its financial statements in accordance with IFRS. In its statement of cash flows, Gee most likely
reports net
a. $ 8,000.
b. $11,000.
c. $28,000.
d. $33,000.
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