Investing and Financing Cash Flows During 2017, Paxon Corporation\'s long-term i

Question

Investing and Financing Cash Flows During 2017, Paxon Corporation's long-term investments account (at was the net result of purchasing stocks costing $80,000 and selling stocks costing $65,000 at a $6.000 loss. Also, its bonds payable account decreased $40,000, the net result of issuing $100,000 of bonds at $103,000 and retiring bonds with a face value (and book value) of $140,000 at a $9,000 gain. What items and amounts financing activities sections of its 2017 statement of cash flows? 3, 4 E11-38. cost) increased $15,000, which appear in the (a) cash flows from investing activities and (b) cash flows from

Explanation / Answer

E11-38.

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(a) Cash Flows from Investing Activities Sale proceeds from long-term investments ($65000 - $6000) 59000 Purchase of long-term investments -80000 Net cash used by investing activities -21000 (b) Cash Flows from Financing Activities Issuance of bonds payable 103000 Retirement of bonds payable ($140000 - $9000) -131000 Net cash used by financing activities -28000

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