Access over 20 million homework & study documents

search

Calc, Inc had the following activities during 2015 Acquired 2,000

Content type
User Generated
Rating
Showing Page:
1/2
Calc, Inc. had the following activities during 2015:
Acquired 2,000 shares of stock in Carabil, Inc. for $25,000.
Calc intends to hold the stock as a long-term investment.
Sold an investment in Galent Auto for $34,000 when the
carrying value was $32,000. Acquired a $50,000, four-
year certificate of deposit from a bank. (During the year,
interest of $3,375 was paid to Calc.) Collected dividends
of $1,200 on stock investments. Required: In Calc\'s year 1
statement of cash flows, what is net cash used in investing
activities?
Solution
Sale o Investment in Galent Auto
$34,000
Investment in certificate of deposit
($50,000)
Interest received on investment
3375
Dividend received
$1,200
Cash flow from investing activities
($11,425)
Rest of transactions are part of either cash flows from

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/2

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
Calc, Inc. had the following activities during 2015: Acquired 2,000 shares of stock in Carabil, Inc. for $25,000. Calc intends to hold the stock as a long -term investment. Sold an investment in Galent Auto for $34,000 when the carrying value was $32,000. Acquired a $50,000, four year certificate of deposit from a bank. (During the year, interest of $3,375 was paid to Calc.) Collected dividends of $1,200 on stock investments. Required: In Calc \'s year 1 statement of cash flows, what is net cash u sed in investing activities? Solution Sale o Investment in Galent Auto $34,000 Investment in ce ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
I use Studypool every time I need help studying, and it never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Documents