Cornett Company reported the following information: Cash received from issuing common stock $125,000 Cash received from the sale of equipment Cash paid to purchase a long-term investment Cash paid to retire a long-term note payable Cash collected from sales to customers What amount should Cornett report on its statement of cash flows from investing activities? Select one: Oa. $0 Ob. $85,600 Oc. $75,000 Od. $10,200 23,700 13,500 50,000 248,000

Cornett Company reported the following information: Cash received from issuing common stock $125,000 Cash received from the sale of equipment Cash paid to purchase a long-term investment Cash paid to retire a long-term note payable Cash collected from sales to customers What amount should Cornett report on its statement of cash flows from investing activities? Select one: Oa. $0 Ob. $85,600 Oc. $75,000 Od. $10,200 23,700 13,500 50,000 248,000

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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Question

Cornett Company reported the following infomation:
Cash received from issuing common stock $125,000
Cash received from the sale of equipment
Cash paid to purchase a long-term investment
Cash paid to retire a long-term note payable
Cash collected from sales to customers
What amount should Cornett report on its statement of cash flows from investing activities?
Select one:
Oa. $0
Ob. $85,600
Oc. $75,000
Od. $10,200
23,700
13,500
50,000
248,000

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