Manning Tint, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Additional information provided by the company includes the following: 1. Equipment was purchased for $68,000.
2) Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for) investing activities?
A) $177,000
B) $18,000
C) $(177,000)
D) $(18,000)

Question

Manning Tint, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet:  Additional information provided by the company includes the following: 1. Equipment was purchased for $68,000.
2) Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for) investing activities?
A) $177,000 
B) $18,000 
C) $(177,000) 
D) $(18,000)

Quizplus · Accepted Answer

The Answer of Manning Tint, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet:  Additional information provided by the company includes the following: 1. Equipment was purchased for $68,000.
2) Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for) investing activities?
A) $177,000 
B) $18,000 
C) $(177,000) 
D) $(18,000)