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The following information on selected cash transactions for 2021 has been provided by York Company: Proceeds...

The following information on selected cash transactions for 2021 has been provided by York Company:

Proceeds from sale of land $290,000

Proceeds from long-term borrowings 480,000

Purchases of inventories 1,020,000

Proceeds from sale of Yorks common stock 385,000

What is the cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information?

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Answer #1

Answer:

Cash provided by investing activities = $290,000

Explanation:

Investing activities section in cash flow statement deals with the money used for making various investments in a specific time period.

Here, proceeds from sale of land is other only cash flow from investing activity.

Proceeds from long term borrowings is a cash inflow from financing activity. Similarly, proceeds from sale of company's own shares is also cash inflow from investing activity.

Purchase of inventories is a cash oulflow in the form of operating activity.

Therefore, cash provided by investing activities for the year ended December 31 = $290,000

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