Connecticut,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 $69,000 with cash.
2)Equipment with a cost of $33,000 and accumulated depreciation of $7300 was sold for $46,000.
What was the amount of net cash provided by (used for)investing activities?
A)$188,000
B)$23,000
C)$(188,000)
D)$(23,000)

Question

Connecticut,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 $69,000 with cash.
2)Equipment with a cost of $33,000 and accumulated depreciation of $7300 was sold for $46,000.
What was the amount of net cash provided by (used for)investing activities?
A)$188,000 
B)$23,000 
C)$(188,000) 
D)$(23,000)

Quizplus · Accepted Answer

Cash Flows from Investing Activities:
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