The following information on selected cash transactions for 2015 has been provided by Mancuso Company: $\begin{array}{lr}
\text { Proceeds from sale of land } & \$ 210,000 \
\text { Proceeds from long-term borrowings } & 400,000 \
\text { Purchases of plant assets } & 144,000 \
\text { Purchases of inventories } & 680,000 \
\text { Proceeds from sale of Mancuso common stock } & 240,000
\end{array}$ What is the cash provided (used) by investing activities for the year ended December 31, 2015, as a result of the above information?
A) $66,000
B) $256,000.
C) $210,000.
D) $850,000.

Question

Quizplus · Accepted Answer

Proceeds from the sale of land is an investing activity that provides cash. Purchases of plant assets is an investing activity that uses cash. The net cash provided (used) by investing activities is $210,000 - $144,000 = $66,000.

The Following Information on Selected Cash Transactions for 2015 Has