Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-4) Creative Sound Systems sold...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Brief Exercise 11-8 Calculate net cash flows from investing activities (LO11-4) Creative Sound Systems sold investments, land, and its own common stock for $40.0 million, $14.0 million, and $38.0 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.0 million, $24.0 million, and $11.0 million, respectively. What amount should the company report as net cash flows from investing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities Net cash flows from investing activities
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
