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makkiz [27]
3 years ago
10

Old South Company purchased investments for $55,000 and plant assets for $147,000 during the current year, during which it also

sold plant assets for $66,000, at a gain of $6,000. The company also purchased treasury stock for $78,000 and sold a new issue of common stock for $523,000. Determine the amount of cash provided by or used for investing activities for the year.
Business
1 answer:
Gnesinka [82]3 years ago
7 0

Answer:

The cash used by investing activity is $136,000.00 as shown in the workings below.

Explanation:

The cash provided by or used by investing activities can be computed thus:

Plant sold                                      $66,000

Investments                                  ($55,000)

Plant assets                                   (<u>$147,000)</u>

Cash used by investing activities ($136,000)

The cash used by investing activities is $136,000 as shown above.

The outflow of $78000 for the purchase of treasury stock relates to financing.

The inflow of $523000 for new share issue is also a financing activity.

The financing activities are transactions relating to the providers of finance, that is the shareholders and debt-holders

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