Gascony co. had the following activities during the current year:
acquired 2,000 shares of t...
Gascony co. had the following activities during the current year:
acquired 2,000 shares of the common stock of garmisch, inc. (classified as available-for-sale), for $26,000.
sold common stock of gastineau motors (classified as available-for-sale) for $35,000 when the carrying amount was $33,000.
acquired a $50,000, 4-year certificate of deposit from a bank. (during the year, interest of $3,750 was paid to gascony.)
collected dividends of $1,200 on stock investments.
in gascony's current-year statement of cash flows, net cash outflow for investing activities should be
a. $37,250
b. $39,800
c. $38,050
d. $41,000
Answers: 1
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