Gee Company\'s accounting records and financial statements reported the followin

Question

Gee Company's accounting records and financial statements reported the following: Cash paid to acquire machinery Proceeds from sale of land Loss from the sale of land Cash paid to acquire a trademark Treasury stock purchased for cash Dividend revenue received $70,000 80,000 5,000 38,000 50,000 20,000 Gee prepares its financial statements in accordance with IFRS. In its statement of cash flows, Gee most likely reports net cash outflows from investing activities of o $ 8,000, O $11.000 O $28,000 O $33,000

Explanation / Answer

Net cash outflows from investing activities = 70000-80000+38000= 28000 Option 3 is correct

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