Selected information from Peridot Corporation's accounting records and financial statements for 2018 is as follows ($ in millions) : Cash paid to acquire machinery $ 30 Reacquired Peridot common stock 53 Proceeds from sale of land 98 Gain from the sale of land 52 Investment revenue received 70 Cash paid to acquire office equipment 82 In its statement of cash flows, Peridot should report net cash outflows from investing activities of:

Multiple Choice

A. $22 million.

B. $85 million.

C. $14 million.

Question

Business

Armando Gilbert

9 November, 15:40

Selected information from Peridot Corporation's accounting records and financial statements for 2018 is as follows ($ in millions) : Cash paid to acquire machinery $ 30 Reacquired Peridot common stock 53 Proceeds from sale of land 98 Gain from the sale of land 52 Investment revenue received 70 Cash paid to acquire office equipment 82 In its statement of cash flows, Peridot should report net cash outflows from investing activities of:

Multiple Choice

A. $22 million.

B. $85 million.

C. $14 million.

+3

Answers (1)

Know the Answer?

Gucci · Answer 1

C. $14 million.

Explanation:

Investing Activities: This tracks the events that include buying and selling long-term properties. The buying is a cash outflow, while the selling is a cash inflow.

Cash flow from Investing activities

Cash paid to acquire machinery - $30 million

Proceeds from the sale of land $98 million

Cash paid to acquire office equipment - $82 million

Net Cash outflows from Investing activities $14 million