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 |
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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