Cash Flows From Investing Activities: Cash Payment for Acquisition of Plant Asse
ID: 2408579 • Letter: C
Question
Cash Flows From Investing Activities:
Cash Payment for Acquisition of Plant Assets
Net Cash Provided by (Used for) Investing Activities
More
Less
Choose from any list or enter any number in the input fields and then click Check Answer.
Outdoor Adventure Company
Comparative Balance Sheet
December 31, 2019 and 2018
2019
2018
Assets
Current Assets:
Cash
$1,398,330
$14,790
Short-term Investments, net
29,000
0
Accounts Receivable, net
1,600
6,300
Merchandise Inventory
400
0
Office Supplies
70
300
Prepaid Rent
0
2,000
Property, Plant, and Equipment:
Land
615,000
75,000
Building
944,000
94,000
Canoes
13,920
13,920
Office Furniture and Equipment
140,000
0
Accumulated Depreciation—PP&E
(31,920)
(1,740)
Total Assets
$3,110,400
$204,570
Liabilities
Current Liabilities:
Accounts Payable
$6,420
$4,400
Utilities Payable
550
250
Telephone Payable
640
290
Wages Payable
3,700
1,200
Notes Payable
18,000
0
Interest Payable
630
30
Unearned Revenue
650
450
Long-Term Liabilities:
Notes Payable
6,720
6,720
Mortgage Payable
725,000
0
Bonds Payable
1,000,000
0
Discount on Bonds Payable
(1,140)
0
Total Liabilities
1,761,170
13,340
Stockholders' Equity
Paid-In Capital:
Preferred Stock
60,000
0
Paid-In Capital in Excess of Par—Preferred
480,000
0
Common Stock
229,000
189,000
Paid-In Capital in Excess of Par—Common
240,000
0
Retained Earnings
340,230
2,230
Total Stockholders' Equity
1,349,230
191,230
Total Liabilities and Stockholders' Equity
$3,110,400
$204,570
Cash Flows From Investing Activities:
Cash Payment for Acquisition of Plant Assets
Net Cash Provided by (Used for) Investing Activities
Explanation / Answer
Cash flows from investing activities
Cash payment for acquisition of land: $540000
(615000-75000)
Cash payment for acquisition of building: $850000
(944000-94000)
Purchase of Office furniture and equipment: $140000
(140000-0)
Net cash used for investing activities: $1530000
(540000+850000+140000)
Do give your feedback!! Happy Learning :)
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.