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Partin Corporation's cash and cash equivalents consist of cash and marketable securities. Last year the company's...

Partin Corporation's cash and cash equivalents consist of cash and marketable securities. Last year the company's cash account increased by $31,000 and its marketable securities account decreased by $22,000. Net cash provided by (used in) operating activities was $108,000. Net cash provided by (used in) financing activities was $(70,000). Based on this information, the net cash provided by (used in) investing activities on the statement of cash flows was: a. ($38.000) b.($29,000) c. $9000 d.$38,000

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Answer #1

Answer: The correct option is b i.e. ($29,000)

Net Change in Cash and Cash Equivalent = Cash Account increased by – marketable securities account decrease by
Net Change in Cash and Cash Equivalent = $31,000 - $22,000
Net Change in Cash and Cash Equivalent = $9,000

Net Change in Cash and Cash Equivalent = Net Cash provided by (Used in) operating activities + Net Cash Provided by (used in) investing activities + Net Cash provided by (used in) Financing activities
$9,000 = $108,000 + Net Cash Provided by (used in) investing activities - $70,000
Net Cash Provided by (used in) investing activities = $9,000 - $108,000 + $70,000
Net Cash Provided by (used in) investing activities = -$29,000

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