The following information is from the noncurrent asset portion of Raggetti Company's balance sheet.

The following activities occurred during 2013:
$\bullet$ Sold equipment with an original cost of $120,000 and a book value of $24,000 for $21,000 cash.
$\bullet$ Depreciation expense for the year totaled $186,000.
$\bullet$ Purchased property for $270,000 cash.
$\bullet$Purchased long-term investments for $99,000 cash.
What is the amount of cash used by investing activities?

Question

The following information is from the noncurrent asset portion of Raggetti Company's balance sheet.

The following activities occurred during 2013:
$\bullet$ Sold equipment with an original cost of $120,000 and a book value of $24,000 for $21,000 cash.
$\bullet$ Depreciation expense for the year totaled $186,000.
$\bullet$ Purchased property for $270,000 cash.
$\bullet$Purchased long-term investments for $99,000 cash.
What is the amount of cash used by investing activities?

Quizplus · Accepted Answer

The Answer of The following information is from the noncurrent asset portion of Raggetti Company's balance sheet.

The following activities occurred during 2013:
$\bullet$ Sold equipment with an original cost of $120,000 and a book value of $24,000 for $21,000 cash.
$\bullet$ Depreciation expense for the year totaled $186,000.
$\bullet$ Purchased property for $270,000 cash.
$\bullet$Purchased long-term investments for $99,000 cash.
What is the amount of cash used by investing activities?

The Following Information Is from the Noncurrent Asset Portion of Raggetti