Rodriguez Ltd uses the indirect method to prepare its cash flow statement.Refer to the following portion of the comparative balance sheet:
Rodriguez Ltd
Comparative balance sheet
as at 31 December 2017 and 2016
Additional information provided by the company includes the following:
Additional information provided by the company includes the following:
1) Equipment costing $68,000 was purchased for cash.
2) Equipment with a cost of $34,000 and accumulated depreciation of $7100 was sold for $48,000.
What was the amount of net cash provided by (used for) investing activities?
A) $(20,000)
B) $251,000
C) $20,000
D) $(251,000)
Correct Answer:
Verified
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