Tutor please provide answer Team Shirts, Inc. had net cash from operating activities of$125,000. It paid $105,000 to buy a new computersystem by signing a $85,000 note and paying the balance.Net cash from (or used for) investing activities for theperiod wasa. $40,000b. ($10,000)c. $10,000d. ($20,000)

Step 1: Identify the total cost of the investment.Step 2: Determine the portion of the payment…

Answered: Team Shirts, Inc. had net cash from…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter19: Corporations: Distributions Not In Complete Liquidation

Section: Chapter Questions

Problem 7BCRQ

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Team Shirts, Inc. had net cash from operating activities of $125,000. It paid $105,000 to buy a new computer system by signing a $85,000 note and paying the balance. Net cash from (or used for) investing activities for the period was a. $40,000 b. ($10,000) c. $10,000 d. ($20,000)