Not secure : eztomheducation com/hm tpx oundational 12-12 avenna Company is a me

Question

Not secure : eztomheducation com/hm tpx oundational 12-12 avenna Company is a merchandiser that uses the indirect method to prepare the operating ctivities section of its statement of cash flows. Its balance sheet for this year is as follows Cash Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Ending Beginning Balance Balance 52,800 S 62 700 45,100 48.400 60,50055,000 165,000 154,000 (55,000) (38,500) $ 268,400 $281,600 Total assels Accounts payable Income taxes payable Bands payable Common stock Retained eamings S 35.200 $62,700 27,500 30,900 66,000 55,000 77,000 66,000 62,700 67,000 Total liabilities and stockholders' equity $ 268 400 $ 281,600 During the year Ravenna paid a $6.600 cash diidend and it sold a piece of equpment for $3,300 that hed orginaly cost $6,600 and had accumulated depreciation of $4.,400 The compery did not netire any bonds or repurchase any of its own common stock during the year Required: What is the amount ot gross cash oustlows reported in the inveating section of the company's statement of cash flows? Onput the amount as positive value,) 136400 cash ourtlows References eBook & Resouroes Foundational 12-12

Explanation / Answer

Solution:

Computation of Gross cash outflows - Investing activities Particulars Amount Purchase of Property Plant and equipment ($165,000 - $154,000 + $6,600) $17,600.00 Gross cash outflows reported in investing section of company statement of cash outflows $17,600.00

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