Swans Machinery Plc reported a net profit of £3 000 000 for the year ended 30 June 2014.The following changes occurred in the statement of financial position: Additional information:
During the year Swans Plc sold equipment with a cost of £250 000 and had accumulated depreciation of £120 000 for a gain of £50 000.
On 30 June 2014 Swans Plc purchased equipment costing £500 000 with £200 000 in cash and a note payable for £300 000.
Depreciation expense for the year was £520 000
What is the amount of net cash from operating activities and net cash used in investing activities respectively for the year ended 30 June 2014?
A) £3 470 000; (£20 000)
B) £3 520 000; (£20 000)
C) £3 470 000; (£200 000)
D) $3 520 000; ($500 000)
Correct Answer:
Verified
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