Determining Net Cash Flow from Investing Activities Davis Inc. reported the following information: 12/31/2019 12/31/2018 Equipment $ 220,000 $155,000 Accumulated depreciation (135,000) (115,200) Investment (long-term) 20,200 12,000 In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).$
Determining Net Cash Flow from Investing Activities Davis Inc. reported the following information: 12/31/2019 12/31/2018 Equipment $ 220,000 $155,000 Accumulated depreciation (135,000) (115,200) Investment (long-term) 20,200 12,000 In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).$
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 41E: Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets...
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Determining Net
Davis Inc. reported the following information:
| 12/31/2019 | 12/31/2018 | |||
| Equipment | $ 220,000 | $155,000 | ||
| (135,000) | (115,200) | |||
| Investment (long-term) | 20,200 | 12,000 |
In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350.
Required:
Compute net cash flow from investing activities. Use a minus sign to indicate negative
$
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