Question
Metlock, Inc. had the following transactions during 2017: 1. Issued $227500 of par value common stock for cash. 2. Recorded and paid wages expense of
Metlock, Inc. had the following transactions during 2017:
1. Issued $227500 of par value common stock for cash.
2. Recorded and paid wages expense of $109200.
3. Acquired land by issuing common stock of par value $91000.
4. Declared and paid a cash dividend of $18200.
5. Sold a long-term investment (cost $5460) for cash of $5460.
6. Recorded cash sales of $728000.
7. Bought inventory for cash of $291200.
8. Acquired an investment in Zynga stock for cash of $38220.
9. Converted bonds payable to common stock in the amount of $910000.
10. Repaid a 6-year note payable in the amount of $400400. What is the net cash provided by financing activities?
a.718900 b.1101100 c.209300 d.(191100)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started