Cornerstone Exercise 11-20 Determining Net Cash Flow from Investing Activities Davis Inc. reported the following...
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Cornerstone Exercise 11-20 Determining Net Cash Flow from Investing Activities
Davis Inc. reported the following information:
12/31/2019
12/31/2018
Equipment
$ 220,000
$155,000
Accumulated depreciation
(135,000)
(115,200)
Investment (long-term)
20,200
12,000
In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350.
Required:
Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).
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