Manning? Tint, Inc. uses the indirect method to prepare its statement of cash fl
ID: 2498768 • Letter: M
Question
Manning? Tint, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance? sheet:
Manning? Tint, Inc.
Comparative Balance Sheet
December? 31, 2017 and 2016
2016
2015
?Increase/(Decrease)
Cash
?$28,000
?$25,000
?$3,000
Accounts Receivable
?32,000
?38,000
?(6,000)
Merchandise Inventory
?55,000
?25,000
?30,000
Plant and Equipment
?126,000
?93,000
?33,000
Depreciationminus?Plant
?(44,000)
?(45,000)
?1,000
Total Assets
?$197,000
?$136,000
?$61,000
Additional information provided by the company includes the? following:
1. Equipment was purchased for? $66,000.
2. Equipment with a cost of? $37,000 and accumulated depreciation of? $7,200 was sold for? $49,000.
What was the amount of net cash provided by? (used for) investing? activities?
Manning? Tint, Inc.
Comparative Balance Sheet
December? 31, 2017 and 2016
Explanation / Answer
Net cash provided by(used for) investing activites = 49000-66000 = (17000)
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.