Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $413,000 was sold for $513,000. b. Additional common stock was issued for $173,000. c. Dristell purchased its own common stock as treasury stock at a cost of $81,500. d. Land was acquired by issuing a 6%, 10-year, $763,000 note payable to the seller. e. A dividend of $53,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $133,000. g. New equipment was purchased for $71,500. h. A $96,500 note payable issued three years ago was paid in full. i. A loan for $113,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest wit months. Required: Calculate net cash flows from investing activities. (Cash outflows should be indicated with a minus sign.) DRISTELL INCORPORATED Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from investing activities: Net cash flows from investing activities
Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $413,000 was sold for $513,000. b. Additional common stock was issued for $173,000. c. Dristell purchased its own common stock as treasury stock at a cost of $81,500. d. Land was acquired by issuing a 6%, 10-year, $763,000 note payable to the seller. e. A dividend of $53,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $133,000. g. New equipment was purchased for $71,500. h. A $96,500 note payable issued three years ago was paid in full. i. A loan for $113,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest wit months. Required: Calculate net cash flows from investing activities. (Cash outflows should be indicated with a minus sign.) DRISTELL INCORPORATED Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from investing activities: Net cash flows from investing activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise):
a. A building with a book value of $413,000 was sold for $513,000.
b. Additional common stock was issued for $173,000.
c. Dristell purchased its own common stock as treasury stock at a cost of $81,500.
d. Land was acquired by issuing a 6%, 10-year, $763,000 note payable to the seller.
e. A dividend of $53,000 was paid to shareholders.
f. An investment in Fleet Corporation's common stock was made for $133,000.
g. New equipment was purchased for $71,500.
h. A $96,500 note payable issued three years ago was paid in full.
i. A loan for $113,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18
months.
Required:
Calculate net cash flows from investing activities. (Cash outflows should be indicated with a minus sign.)
DRISTELL INCORPORATED
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Cash flows from investing activities:
Net cash flows from investing activities
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