Zoom Company uses the indirect method to prepare its statement of cash flows. Please referto the following portion of the comparative balance sheet:Increase/decrease$ 18,00035,00025,00090,00020142013CashAccounts receivableInventoryPP&E, netTotal assets$ 21,00031,00053,000120,000$225,000 $168,000$ 3,000(4,000)28,00030,000$57,000Additional information provided:Equipment costing $52,000 was purchased for cash.Equipment with a net asset value of $10,000 was sold for $14,000.• Depreciation expense of $12,000 was recorded during the year.Based on the info presented which of the following is the correct net amount of Cash frominvesting activities?A) $30,000 negativeB) $60,000 positiveC) $52,000 negativeD) $38,000 negative

Cash flow statements are prepared by the entity to determine the flow of cash from period to another…

Answered: Zoom Company uses the indirect method…

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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