Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following...
Brief Exercise 11-30 (Algorithmic)
Determining Net Cash Flow from Investing Activities
Orlando Inc. reported the following information:
| 12/31/2019 | 12/31/2018 | |||
| Furniture | $46,000 | $32,000 | ||
| Accumulated depreciation | 15,900 | 12,500 | ||
| Investment (long-term) | 38,000 | 50,000 | ||
In addition, Orlando sold furniture costing $12,000 with accumulated depreciation of $6,600 for $6,260. Orlando also reported a $1,600 gain on the sale of long-term investments.
Required:
Compute net cash flow from investing activities. Use a minus
sign to indicate negative cash flows (outflows).
$
Homework Answers
| purchase of furniture (46,000-32,000) | (14,000) |
| sale of furniture (only cash value is relevant) | 6,260 |
| sale of investment (50000-38000) | 12,000 |
| net cash flow from investing activities | $4,260 |
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Brief Exercise 11-30 (Algorithmic)
Determining Net Cash Flow from Investing Activities
Orlando Inc. reported the following...
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