am. 76. 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 $1,200 on minority-passive stock investments.Required:In Alp's 20X1 statement of cash flows, what amount would be shown for net cash used in investing activities? (Cash outflows shouldbe entered with a minus sign.)Answer is complete but not entirely correct.$ 41,000 XNet cash used in investing activities

The investing activities of a company are clearly the ones by which a company has either invested…

Answered: Required: In Alp's 20X1 statement of…

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.)

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

am. 76.

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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