During 2017, Blaine Company sold a building with a book value of $145,000 for proceeds of $175,000. The company also sold long-term investments for proceeds of $32,000. The company purchased land and a new building for $320,000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2017.
Instructions
Compute net cash flows from investing activities.

Question

Quizplus · Accepted Answer

The Answer of During 2017, Blaine Company sold a building with a book value of $145,000 for proceeds of $175,000. The company also sold long-term investments for proceeds of $32,000. The company purchased land and a new building for $320,000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2017.
Instructions
Compute net cash flows from investing activities.

During 2017, Blaine Company Sold a Building with a Book