Required: In Alp's 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities? (Cash outflows should be entered with a minus sign.)
Required: In Alp's 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities? (Cash outflows should be entered with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
am. 76.
Transcribed Image Text:Alp Inc. had the following activities during 20X1:
• Acquired 2,000 shares of stock in Maybel Inc. for $26,000.
• Sold an investment in Rate Motors for $35,000 when the carrying value was $33,000.
• Acquired a $50,000, four-year certificate of deposit from a bank. (During the year, interest of $3,750 was paid to Alp.)
• Collected dividends of $1,200 on minority-passive stock investments.
Required:
In Alp's 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities? (Cash outflows should
be entered with a minus sign.)
Answer is complete but not entirely correct.
$ 41,000 X
Net cash used in investing activities
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