Christopher Corp. is preparing its statement of cash flows using the indirect me

Question

Christopher Corp. is preparing its statement of cash flows using the indirect method. It provides the following information about transactions for the year: Plant assets, net-beginning balance: $111,000 Plant assets, net-ending balance: $148,000 Equipment was purchased for $65:000. Equipment with a net asset value of $12,000 was sold for $18,000. Depreciation Expense of $16,000 was recorded during the year. What was the amount of net cash provided by (used for) investing activities $(47,000)$47,000 $(63,000) $(39,000)

Explanation / Answer

Net Cash Provided (Used for) Investing Activities are as under

So the Net Cash used in Investment Activities was $47,000. Answer A is correct

Amount($) Invesing Activities Purchase of Equipments (65,000) Proceeds from Sale of Equipment 18,000 Net Cash Provided(Used) for Investment Activities (47,000)

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