Question

The following information is available for Elm Tree Corporation for the year ended December 31, 2015:...

The following information is available for Elm Tree Corporation for the year ended December 31, 2015:

Collection of principal on long-term loan to a supplier

$25,000

Purchase of equipment for cash

12,000

Proceeds from the sale of long-term investment at carrying amount

28,000

Issue of common shares for cash

23,500

Payment of cash dividends

47,250

Purchase of land by issuing common shares

35,000

In addition, the following information is available from the comparative statements of financial position for Elm Tree Corporation at the end of 2015 and 2014:

Dec 31,2015

Dec 31, 2014

Cash

$ 95,900

$16,000

Accounts receivable

24,500

21,250

Prepaid insurance

    13,500

   9,000

Total current assets

$133,900

$46,250

Accounts payable

$36,250

$33,500

Salaries payable

    5,100

    8,200

Total current liabilities

$41,350

$41,700

Determine the net cash provided by investing activities for the year ended December 31, 2015

Question 14 options:

41,000

32,330

28,750

36,430

None of the above

Homework Answers

Answer #1

Answer: $41,000

Explanation

$
Cash Flows from Investing Activities:
Collection of long-term loan          25,000.00
Proceeds from the sale of investments          28,000.00
Purchase of Equipment         (12,000.00)
Net Cash provided by Investing Activities          41,000.00
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