Under what section of the Statement of Cash Flows would you report the purchase of an long-term intangibleasset such as a patent for cash?O InvestingO BondsO LeasesO FinancingO Notes: Noncash activityO OperatingASUSf5f6f7[Xf9f10f11%24&47.8RYUGH.5F.图

Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and…

Answered: Under what section of the Statement of…

Under what section of the Statement of Cash Flows would you report the purchase of an long-term intangibles asset such as a patent for cash? O Investing

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 6DQ

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A long term investment in bonds with a cost of $500000 was sold for $600000 cash. (a) what was the gain or loss on the sale? (b) what was the effect of the transaction on cash flows? (c) how should the transaction be reported on the statement of cash flows if cash flows from operating activities are reported by the indirect method?
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