Question

MC Qu. 22 Selected information from the accounting... Selected information from the accounting records of Dunn's Auto Dealers is as follows: Cost of furniture purchased for cash $ 8,000 Proceeds from bank loan 100,000 Repayment of bank loan (includes interest of $4,000) 44,000 Proceeds from sale of equipment 5,000 Cash collected from customers 320,000 Purchase of stock of another corporation as an investment 20,000 Common stock issued for cash 200,000 In its statement of cash flows, Dunn's should report net cash outflows from investing activities of:

Answer 1

($23,000)

Step-by-step explanation:

Cash flow from Investing Activities

Purchase of furniture ($ 8,000)

Proceeds from sale of Equipment $5,000

Investment in other companies ($20,000)

Net Cash used by Investing Activities ($23,000)

Notes :

Cash flow from Investing activities section of the cash flows statement shows the cash movement in acquisition of assets and sale of assets.