Assume the following excerpts from a company’s balance sheet: Beginning Balance Ending Balance Property, plant, and equipment $ 3,750,000 $ 3,500,000 Long-term investments $ 950,000 $ 1,093,000 During the year, the company purchased property, plant, and equipment for $130,000 in cash. It sold equipment that had accumulated depreciation of $150,000 for a loss of $20,000. The company did not sell any long-term investments during the period. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $23,000. $(23,000). $63,000. $(63,000).
Assume the following excerpts from a company’s balance sheet: Beginning Balance Ending Balance Property, plant, and equipment $ 3,750,000 $ 3,500,000 Long-term investments $ 950,000 $ 1,093,000 During the year, the company purchased property, plant, and equipment for $130,000 in cash. It sold equipment that had accumulated depreciation of $150,000 for a loss of $20,000. The company did not sell any long-term investments during the period. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $23,000. $(23,000). $63,000. $(63,000).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume the following excerpts from a company’s
| Beginning Balance | Ending Balance | |
|---|---|---|
| Property, plant, and equipment | $ 3,750,000 | $ 3,500,000 |
| Long-term investments | $ 950,000 | $ 1,093,000 |
During the year, the company purchased property, plant, and equipment for $130,000 in cash. It sold equipment that had
Multiple Choice
-
$23,000.
-
$(23,000).
-
$63,000.
-
$(63,000).
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