Question
In: Accounting
The following information on selected cash transactions for 2021 has been provided by Crane Company: Proceeds...
The following information on selected cash transactions for 2021
has been provided by Crane Company:
| Proceeds from sale of land | $311000 | |
| Proceeds from long-term borrowings | 606000 | |
| Purchases of plant assets | 212000 | |
| Purchases of inventories | 1015000 | |
| Proceeds from sale of Crane common stock | 368000 |
What is the cash provided (used) by investing activities for the
year ended December 31, 2021, as a result of the above
information?
| $99000. |
| $311000. |
| $1285000. |
| $394000. |
Solutions
Expert Solution
| Correct Answer for this question is First Option : $99,000 | ||||
| Particulars | Amount | |||
| Proceeds from the sale of land | $ 3,11,000 | |||
| Less : Purchase of plnat assets | $ 2,12,000 | |||
| Net cash inflow from investing activities | $ 99,000 | |||
| Note: Investing activities will be showing how much money has been used | ||||
| Investment activities include the purchase & sale of property,plant&equipment, | ||||
| acquisitions of any other business or companies, sale of other business and | ||||
| so on. | ||||
| Here in the scenario, proceeds from long term borrowings and proceeds from the issue of common | ||||
| stock is cash flow from financing activities. | ||||
| Purchase of inventories is operating activity as it is a part of day tom day operations of the business | ||||
| and it is not an investment for the company. | ||||
ekkarill92 answered 1 year agoRelated Solutions
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