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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Foundational 15-13 (Algo) Ending Balance $ 85,600 69,500 93,300 248,400 249,000 83,000 166,000 Net cash $ 414,400 $ 54,400 42,300 102,000 119,000 96,700 $ 414,400 During the year, Ravenna paid a $10,200 cash dividend and it sold a piece of equipment for $5,100 that had originally cost $11,400 and had accumulated depreciation of $7,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 13. What is the company's net cash provided by (used in) investing activities? investing activities Beginning Balance $ 102,500 74,800 85,000 262,300 238,000 59,500 178,500 $ 440,800 $ 96,700 54,100 85,000 102,000 103,000 $ 440,800

Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Foundational 15-13 (Algo) Ending Balance $ 85,600 69,500 93,300 248,400 249,000 83,000 166,000 Net cash $ 414,400 $ 54,400 42,300 102,000 119,000 96,700 $ 414,400 During the year, Ravenna paid a $10,200 cash dividend and it sold a piece of equipment for $5,100 that had originally cost $11,400 and had accumulated depreciation of $7,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 13. What is the company's net cash provided by (used in) investing activities? investing activities Beginning Balance $ 102,500 74,800 85,000 262,300 238,000 59,500 178,500 $ 440,800 $ 96,700 54,100 85,000 102,000 103,000 $ 440,800

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Foundational 15-13 (Algo) Ending Balance $ 85,600 69,500 93,300 Net cash 248,400 249,000 83,000 166,000 investing activities $ 414,400 $ 54,400 42,300 102,000 119,000 96,700 $ 414,400 During the year, Ravenna paid a $10,200 cash dividend and it sold a piece of equipment for $5,100 that had originally cost $11,400 and had accumulated depreciation of $7,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 13. What is the company's net cash provided by (used in) investing activities? Beginning Balance $ 102,500 74,800 85,000 262,300 238,000 59,500 178,500 $ 440,800 $ 96,700 54,100 85,000 102,000 103,000 $ 440,800
Transcribed Image Text:Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Foundational 15-13 (Algo) Ending Balance $ 85,600 69,500 93,300 Net cash 248,400 249,000 83,000 166,000 investing activities $ 414,400 $ 54,400 42,300 102,000 119,000 96,700 $ 414,400 During the year, Ravenna paid a $10,200 cash dividend and it sold a piece of equipment for $5,100 that had originally cost $11,400 and had accumulated depreciation of $7,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 13. What is the company's net cash provided by (used in) investing activities? Beginning Balance $ 102,500 74,800 85,000 262,300 238,000 59,500 178,500 $ 440,800 $ 96,700 54,100 85,000 102,000 103,000 $ 440,800
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can I ask how did you compute this part? I am very confused about this part. can you give me a detailed computation? Thanks

Purchase of Equipment  $     (22,400)
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