Wainwright Corporation had the following activities in 2020. Sale of land $180,000. Purchase of inventory $845,000. Purchase of treasury stock $72,000. Purchase of equipment $415,000. Issuance of common stock $320,000. Purchase of available-for-sale debt securities $59,000. Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of cash flows.
Wainwright Corporation had the following activities in 2020. Sale of land $180,000. Purchase of inventory $845,000. Purchase of treasury stock $72,000. Purchase of equipment $415,000. Issuance of common stock $320,000. Purchase of available-for-sale debt securities $59,000. Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of cash flows.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wainwright Corporation had the following activities in 2020.
- Sale of land $180,000.
- Purchase of inventory $845,000.
- Purchase of
treasury stock $72,000. - Purchase of equipment $415,000.
- Issuance of common stock $320,000.
- Purchase of available-for-sale debt securities $59,000.
Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of
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