Manning Tint,Inc.uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:

Additional information provided by the company includes the following:
1.Equipment was purchased for $68,000.
2.Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for)investing activities?
A)$177,000
B)$18,000
C)$(177,000)
D)$(18,000)

Question

Manning Tint,Inc.uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:

Additional information provided by the company includes the following:
1.Equipment was purchased for $68,000.
2.Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for)investing activities?
A)$177,000 
B)$18,000 
C)$(177,000) 
D)$(18,000)

Quizplus · Accepted Answer

D)
Cash Flows from Investing Activities:
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