Selected information from Large Corporation's accounting records and financial statements for 2018 is as follows ($...
Selected information from Large Corporation's accounting records
and financial statements for 2018 is as follows ($ in
millions):
| Cash paid to acquire a patent | $ | 22 | |
| Treasury stock purchased for cash | 19 | ||
| Proceeds from sale of land and buildings | 36 | ||
| Gain from the sale of land and buildings | 20 | ||
| Investment revenue received | 6 | ||
| Cash paid to acquire office equipment | 31 | ||
Large prepares its financial statements in accordance with IFRS. In
its statement of cash flows, Large most likely reports net cash
outflows from investing activities of:
Homework Answers
The calculation of cash outflow from investing activity is shown below:
Cash flow = proceeds from sales of land and building + Interest revenue - cash paid to acquire patent- cash paid to acquire office equipment
= $36 + $6 - $22 - $31
= $11 million outflow
Note -
According To IFRS, interest revenue is treated as operating or investing activity.
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