Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Metlock, Inc. had the following transactions during 2 0 2 5 : Issued $ 2 5 0 0 0 0 of par value common stock

Metlock, Inc. had the following transactions during 2025:
Issued $250000 of par value common stock for cash.
Recorded and paid salaries and wages expense of $128500.
Acquired land by issuing common stock valued at $100000.
Declared and paid a cash dividend of $21600.
Sold land (cost $6000) for cash of $6000.
Recorded cash sales of $790000.
Bought inventory for cash of $341000.
Acquired equipment for cash of $42400.
Converted bonds payable to common stock in the amount of $1000000.
Repaid a 6-year note payable in the amount of $446000.
What is the net cash provided by operating activities?
$320500.
$449000.
$594000.
$549000.
image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Payroll Accounting

Authors: Bernard J. Bieg, Judith A. Toland

2013 edition

113396253X, 978-1133962533

More Books

Students also viewed these Accounting questions

Question

What other visualizations might you use to explore sales revenue?

Answered: 1 week ago

Question

How many customers reside in Texas?

Answered: 1 week ago