Determine amount of cash inflow from investing activities


Response to the following problem:

Carole Hospital's balance sheets provide the following information:

                                         12/31/X2           12/31/X1
Long-term investments        $288,300            $262,700

During 20X2, the hospital sold certain long-term investments at a gain of $14,600 and purchased new long-term investments at a cost of $87,500.

Required: In the hospital's 20X1 statement of cash flows, what amount should be reported as a cash inflow from its investing activities?

 

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Financial Accounting: Determine amount of cash inflow from investing activities
Reference No:- TGS02089040

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