Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kingbird, Inc.had the following transactions during 2022: 1. Issued $340000of par value common stock for cash. 2. Recorded and paid wages expense of $163200. 3.

Kingbird, Inc.had the following transactions during 2022:

1. Issued $340000of par value common stock for cash.

2. Recorded and paid wages expense of $163200.

3. Acquired land by issuing common stock of par value $136000.

4. Declared and paid a cash dividend of $27200.

5. Sold a long-term investment (cost $8160) for cash of $8160.

6. Recorded cash sales of $1088000.

7. Bought inventory for cash of $435200.

8. Acquired an investment in Zynga stock for cash of $57120.

9. Converted bonds payable to common stock in the amount of $1360000.

10. Repaid a 6-year note payable in the amount of $598400.

What is the net cash provided by investing activities?

($184960).

$1175040.

($48960).

$576640

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Advanced Accounting In Canada

Authors: Hilton Murray, Herauf Darrell

9th Edition

1259654699, 978-1259654695

More Books

Students also viewed these Accounting questions

Question

1. Background knowledge of the subject and

Answered: 1 week ago