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The Following Information Is from the Noncurrent Asset Portion of Raggetti

question 57

Multiple Choice

The following information is from the noncurrent asset portion of Raggetti Company's balance sheet.
$The following information is from the noncurrent asset portion of Raggetti Company's balance sheet. The following activities occurred during 2013: \bullet Sold equipment with an original cost of $120,000 and a book value of $24,000 for $21,000 cash. \bullet Depreciation expense for the year totaled $186,000. \bullet Purchased property for $270,000 cash. \bullet Purchased long-term investments for $99,000 cash. What is the amount of cash used by investing activities? A) $159,000 B) $249,000 C) $348,000 D) $534,000 E) None of the answer choices is correct.$
The following activities occurred during 2013:
$\bullet$ Sold equipment with an original cost of $120,000 and a book value of $24,000 for $21,000 cash.
$\bullet$ Depreciation expense for the year totaled $186,000.
$\bullet$ Purchased property for $270,000 cash.
$\bullet$ Purchased long-term investments for $99,000 cash.
What is the amount of cash used by investing activities?

Definitions:

Convergence

The process or phenomenon where differing groups, ideas, or elements come together to form a new uniformity or agreement.

Traits, Behavior

Characteristics or qualities of an individual that are manifested through their actions and decisions.

Situational Variables

Factors or conditions that can change and impact outcomes within different contexts or environments.

Organizational Levels

Refers to the hierarchy within an organization that includes various positions and responsibilities, ranging from executive management to frontline employees.