In preparing its cash flow statement for the year ended December 31, 2009, Red Co. gathered the following data: In its December 31, 2009, statement of cash flows, what amount should Red report as net cash outflows from investing activities?
A)$340,000
B)$352,000
C)$376,000
D)$388,000

Question

Quizplus · Accepted Answer

Net cash outflows from investing activities = Purchase of equipment - Sale of land = $380,000 - $28,000 = $352,000

In Preparing Its Cash Flow Statement for the Year Ended