During 2016 Blaine Company sold a building with a book value of $145000 for proceeds of $175000. The company also sold long-term investments for proceeds of $32000. The company purchased land and a new building for $320000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2016.
Instructions
Compute net cash flows from investing activities.

Question

Quizplus · Accepted Answer

The Answer of During 2016 Blaine Company sold a building with a book value of $145000 for proceeds of $175000. The company also sold long-term investments for proceeds of $32000. The company purchased land and a new building for $320000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2016.
Instructions
Compute net cash flows from investing activities.

During 2016 Blaine Company Sold a Building with a Book