The following information on cash transactions were reported by FDNACCT Co.: Proceeds from bank loan = P420,000 Proceeds from sale of equipment = P45,000 Investment of owner = P25,000 Payment of operating expenses = P320,000 Purchase of equipment = P258,000 Payment of principal of Notes Payable = P45,000 How much is cash provided by (used in) Investing Activities? Enter as a negative number if the answer is used in Investing Activities.

The following information on cash transactions were reported by FDNACCT Co.: Proceeds from bank loan = P420,000 Proceeds from sale of equipment = P45,000 Investment of owner = P25,000 Payment of operating expenses = P320,000 Purchase of equipment = P258,000 Payment of principal of Notes Payable = P45,000 How much is cash provided by (used in) Investing Activities? Enter as a negative number if the answer is used in Investing 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 9MCQ: Refer to the information for Cornett Company above. What amount should Cornett report on its...

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Thompson Company sold a piece of equipment that had an original cost of 22,000 and a carrying value of 10,000 for 13,000 in cash. How would this information be reported on a statement of cash flows prepared using the indirect method?
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