Mary Andrews, Inc. had the following transactions: Cash proceeds on sale of land $ 430 comma 000 Cash proceeds on sale of equipment 120 comma 000 Purchase of treasury stock with cash 46 comma 000 Purchase of equipment with cash 47 comma 000 Issuance of common stock for cash 100 comma 000 On a statement of cash flows prepared under the indirect method, Net cash provided by investing activities is: A. $ 457 comma 000. B. $ 503 comma 000. C. $ 550 comma 000. D. $ 557 comma 000.

Question

Business

Buddie

27 January, 10:54

Mary Andrews, Inc. had the following transactions: Cash proceeds on sale of land $ 430 comma 000 Cash proceeds on sale of equipment 120 comma 000 Purchase of treasury stock with cash 46 comma 000 Purchase of equipment with cash 47 comma 000 Issuance of common stock for cash 100 comma 000 On a statement of cash flows prepared under the indirect method, Net cash provided by investing activities is: A. $ 457 comma 000. B. $ 503 comma 000. C. $ 550 comma 000. D. $ 557 comma 000.

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Answers (1)

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Brie · Answer 1

B. $ 503 comma 000

Explanation:

Net cash provided by investing activities

= Cash proceeds on sale of land + Cash proceeds on sale of equipment - Purchase of equipment with cash

= $ 430,000 + $120,000 - $47,000

= $503,000

Therefore, The Net cash provided by investing activities is $503,000