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6 November, 02:41

In preparing Marjorie Company's statement of cash flows for the most recent year, the following information is available:

Purchase of equipment $260,000

Proceeds from the sale of equipment $87,000

Purchase of land $91,000

Net cash flows from investing activities for the year were:

a.

$438,000 of net cash used.

b.

$438,000 of net cash provided.

c.

$264,000 of net cash used.

d.

$351,000 of net cash used.

e.

$264,000 of net cash provided.

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Answers (1)
  1. 6 November, 02:55
    0
    Answer: The answer is e. $264,000 of net cash provided.

    Explanation:

    Marjorie Company

    Statement of cash flows

    Purchase of equipment ($260,000)

    Proceeds from sale of equipment 87,000

    Purchase of land (91,000)

    Net cash flows from investing activities $264,000
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