Zoum Corporation had the following transactions during 2021: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $10,000. 5. Sold a long-term investment (cost $3,000) for cash of $3,000. 6. Recorded cash sales of $400,000. 7. Bought inventory for cash of $160,000. 8. Acquired an investment in Zynga stock for cash of $21,000. 9. Converted bonds payable to common stock in the amount of $500,000. 10. Repaid a 6 year note payable in the amount of $220,000. Calculate the amount of cash used by investing activities. Only enter the number. No brackets or negative signs required

Zoum Corporation had the following transactions during 2021: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $10,000. 5. Sold a long-term investment (cost $3,000) for cash of $3,000. 6. Recorded cash sales of $400,000. 7. Bought inventory for cash of $160,000. 8. Acquired an investment in Zynga stock for cash of $21,000. 9. Converted bonds payable to common stock in the amount of $500,000. 10. Repaid a 6 year note payable in the amount of $220,000. Calculate the amount of cash used by investing activities. Only enter the number. No brackets or negative signs required

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Windsor, Inc. had the following transactions during 2022:1. Issued $215000 of par value common stock for cash.2. Recorded and paid wages expense of $103200.3. Acquired land by issuing common stock of par value $86000.4. Declared and paid a cash dividend of $17200.5. Sold a long-term investment (cost $5160) for cash of $5160.6. Recorded cash sales of $688000.7. Bought inventory for cash of $275200.8. Acquired an investment in Zynga stock for cash of $36120.9. Converted bonds payable to common stock in the amount of $860000.10. Repaid a 6-year note payable in the amount of $378400.What is the net cash provided by operating activities? $524600. $498800. $412800. $309600.
Whispering Winds Corp.had the following transactions during 2022:1. Issued $182500 of par value common stock for cash.2. Recorded and paid wages expense of $87600.3. Acquired land by issuing common stock of par value $73000.4. Declared and paid a cash dividend of $14600.5. Sold a long-term investment (cost $4380) for cash of $4380.6. Recorded cash sales of $584000.7. Bought inventory for cash of $233600.8. Acquired an investment in Zynga stock for cash of $30660.9. Converted bonds payable to common stock in the amount of $730000.10. Repaid a 6-year note payable in the amount of $321200.What is the net cash provided by investing activities?
Oriole Companyhad the following transactions during 2022:1. Issued $280000 of par value common stock for cash.2. Recorded and paid wages expense of $134400.3. Acquired land by issuing common stock of par value $112000.4. Declared and paid a cash dividend of $22400.5. Sold a long-term investment (cost $6720) for cash of $6720.6. Recorded cash sales of $896000.7. Bought inventory for cash of $358400.8. Acquired an investment in Zynga stock for cash of $47040.9. Converted bonds payable to common stock in the amount of $1120000.10. Repaid a 6-year note payable in the amount of $492800.What is the net cash provided by investing activities? $474880 ($40320). ($152320). $967680.
Pina Colada Corp. had the following transactions during 2022:1. Issued $302500 of par value common stock for cash.2. Recorded and paid wages expense of $145200.3. Acquired land by issuing common stock of par value $121000.4. Declared and paid a cash dividend of $24200.5. Sold a long-term investment (cost $7260) for cash of $7260.6. Recorded cash sales of $968000.7. Bought inventory for cash of $387200.8. Acquired an investment in Zynga stock for cash of $50820.9. Converted bonds payable to common stock in the amount of $1210000.10. Repaid a 6-year note payable in the amount of $532400.What is the net cash provided by financing activities? $1464100. $(254100). $278300. $955900.
chill Company purchased treasury stock with a cost of $216,000 during 2020. During the year, the company paid dividends of $220,000 and issued bonds payable for proceeds of $650,000. Cash flows from financing activities for 2020 total a. $214,000 net cash inflow. b. $256,000 net cash inflow. c. $260,000 net cash outflow. d. $244,000 net cash inflow.
Oriole Company purchased treasury stock with a cost of $68200 during 2022. During the year, the company paid dividends of $24800 and issued bonds payable for proceeds of $1086200. Cash flows from financing activities for 2022 total $93000 net cash outflow. $993200 net cash inflow. $1129600 net cash inflow. $1061400 net cash inflow.
Nash's Trading Post, LLC issued 14800 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $36000 and issued long-term notes payable of $326000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?
Madisun Company issued common stock for proceeds of $20,000 during 2020. The company paid dividends of $5,000. The company also issued a long-term note payable for $35,000 in exchange for equipment during the year. The company sold treasury stock that had a cost of $3,000 for $9,000.Compute net cash flows from financing activities. Net cash flows from financing activities $
XYZ Corp. reported the following activity and balance sheet data for fiscal 2019: • The company declared cash dividends of $90. • The company issued bonds to raise cash in order to redeem bonds with a face value of $300 and to raise additional capital for expansion. • The company raised cash by issuing 50 shares of stock. • The company purchased treasury shares at a cost of $90. • Fiscal 2019 net income was $220. Dividends Payable Bonds Payable Common Stock, $1 Paid In Capital Retained Earnings Treasury Stock 12/31/19 30 1,700 550 1,770 1,670 140 1/1/19 20 1,500 500 1,350 1,540 50 Cash flow from/used in financing activities was: Enter a positive number for a cash inflow or a negative number for a cash outflow.
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in millions)Fair value of shares issued in a stock dividend $ 65Payment for the early extinguishment oflong-term bonds (book value: $97 million) 102Proceeds from the sale of treasury stock (cost: $17 million) 22Gain on sale of land 4Proceeds from sale of land 12Purchase of Microsoft common stock 160Declaration of cash dividends 44Distribution of cash dividends declared in 2020…
Coronary, Inc. had the following transactions during 2020: Purchased new fixed assets for $35,000 Converted $20,000 worth of preferred shares to common shares Received cash dividends of $11,000. Paid cash dividends of $20,000. • Repaid mortgage principal of $17,000 . . . Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and cash flows from financing in 2020? Investing: ($35,000); Financing: ($37,000) Investing: ($24,000); Financing: ($26,000) Investing: ($35,000): Financing: ($26,000)
XYZ Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during 2021: January 1 cash balance 1,000,000 Cash receipts from issuance of ordinary shares 1,208,000 Cash receipts from customers 1,640,000 Proceeds from sale of treasury shares (cost – P720,000) 800,000 Cash receipts from dividends on long-term investments 80,000 Cash receipts from repayment of loan made to another company 640,000 Cash payments to suppliers 1,080,000 Cash paid to redeem own shares 1,200,000 Cash paid for interest on long-term notes 120,000 Cash payments for operating expenses 320,000 Cash payments for dividends 200,000 Cash payment for income taxes 144,000 Cash paid to purchase land 1,040,000 Required: Prepare statement of cash flows at December 31, 2021.