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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 $122,350. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).$

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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).
$

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