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Question 19 The following information on selected cash transactions for 2011 has been provided by Mancuso...
Question 19
The following information on selected cash transactions for 2011 has been provided by Mancuso Company:
Proceeds from sale of land $160,000
Proceeds from long-term borrowings 400,000
Purchases of plant assets 144,000
Purchases of inventories 680,000
Proceeds from sale of Mancuso common stock 240,000
What is the cash provided (used) by investing activities for the year ended December 31, 2011, as a result of the above information?
|
a. $16,000. |
||
|
b. $256,000. |
||
|
c. $160,000. |
||
|
d. $800,000. |
Solutions
Expert Solution
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| Correct option is: a. $16,000 | ||
| Workings: | ||
| Cash flows used for investing activities: | ||
| Proceeds from sale of land | = | $ 1,60,000 |
| Purchase of plant asset | = | $ -1,44,000 |
| Net cash flows provided by investing activities | = | $ 16,000 |
ekkarill92 answered 1 week agoRelated Solutions
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