Keynes Corp. had the following cash transactions during 2020. Proceeds from sale of land: $312,000 Proceeds...
Keynes Corp. had the following cash transactions during 2020. Proceeds from sale of land: $312,000 Proceeds from long-term borrowings: $260,000 Purchases of plant assets: $215,000 Purchases of inventories: $458,000 Proceeds from sale of Keynes common stock: $1,200,000 The land that was sold had an original cost to Keynes of $189,000. Determine net cash provided (used) by investing activities for Keynes for 2020.
Homework Answers
Cash provided by Investing activities= $357,000
Working
| Cash flows from investing activities: | ||
| Proceeds from sale of land | $ 312,000.00 | |
| Proceeds from long-term borrowings | $ 260,000.00 | |
| Purchases of plant assets | $ (215,000.00) | |
| Net cash from Investing Activities | $ 357,000.00 |
.Proceeds from sale of common stock is a part of financing activities and Purchase of Inventory is an operating activity.
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