Question
The following information on selected cash transactions for 2018 has been provided by Simpson Company: Proceeds from sale of land $160,000 Proceeds from Long-term borrowings
The following information on selected cash transactions for 2018 has been provided by Simpson Company:
| Proceeds from sale of land | $160,000 |
| Proceeds from Long-term borrowings | 400,000 |
| Purchases of plant assets | 144,000 |
| Purchases of inventories | 680,000 |
| Proceeds from sale of Simpson common stock | 240,000 |
What is the cash provided (used) by investing activities for the year ended December 31, 2018, as a result of above information?
a. $16,000
b. $256,000
c. $160,000
d. $800,000
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
19th International Edition
125909524X, 9781259095245
