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3 September, 19:18

Knowledge Check 01 Selected information from Marie Corporation's accounting records and financial statements is as follows: Cash paid to acquire machinery $ 32,000 Retired common stock 59,000 Proceeds from sale of land 100,000 Gain from the sale of land 53,000 Investment revenue received 72,000 Cash paid to acquire office equipment 90,000 What are the net cash flows from investing activities that will be reported in the statement of cash flows? (Enter net cash outflows with a minus sign.)

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  1. 3 September, 22:56
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    Answer: - ($22,000)

    Explanation:

    Given that,

    Cash paid to acquire machinery = $32,000

    Retired common stock = $59,000

    Proceeds from sale of land = $100,000

    Gain from the sale of land = $53,000

    Investment revenue received = $72,000

    Cash paid to acquire office equipment = $90,000

    Net cash flows from investing activities:

    = Proceeds from sale of land - Cash paid to acquire machinery - Cash paid to acquire office equipment

    = $100,000 - $32,000 - $90,000

    = - ($22,000)
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