Wainwright Corporation had the following activities in 2020. Sale of land $180,000. Purchase of inventory $845,000. Purchase of treasury stock $72,000. Purchase of equipment $415,000. Issuance of common stock $320,000. Purchase of available-for-sale debt securities $59,000. Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of cash flows.
Wainwright Corporation had the following activities in 2020. Sale of land $180,000. Purchase of inventory $845,000. Purchase of treasury stock $72,000. Purchase of equipment $415,000. Issuance of common stock $320,000. Purchase of available-for-sale debt securities $59,000. Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of cash flows.
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 44E
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Wainwright Corporation had the following activities in 2020.
- Sale of land $180,000.
- Purchase of inventory $845,000.
- Purchase of
treasury stock $72,000. - Purchase of equipment $415,000.
- Issuance of common stock $320,000.
- Purchase of available-for-sale debt securities $59,000.
Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of
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