Question

The following are data concerning cash received or paid from various transactions for Orange Peels Corporation.Sale of land - $100,000 Sale of equipment - $50,000 Issuance of common stock - $70,000 Purchase of equipment - $30,000 Payment of cash dividends - $60,000Net cash provided by investing activities is:
(a) $120,000.
(b) $130,000.
(c) $150,000.
(d) $190,000.

Answer 1

Answer:

(a) $120,000.

Explanation:

The preparation of the net cash provided by investing activities is presented below:

Cash from investing activities

Sale of equipment $50,000

Sale of land $100,000

Less: Purchase of equipment -$30,000

Net cash provided by investing activities               $120,000

The other transactions reflect the financing activities