Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty Corporation had the following transactions during 2022: 1. Issued $175000 of par value common stock for cash. 2. Recorded and paid wages expense of

image text in transcribed
Swifty Corporation had the following transactions during 2022: 1. Issued $175000 of par value common stock for cash. 2. Recorded and paid wages expense of $84000. 3. Acquired land by issuing common stock of par value $70000. 4. Declared and paid a cash dividend of $14000. 5. Sold a long-term investment (cost $4200) for cash of $4200. 6. Recorded cash sales of $560000. 7. Bought inventory for cash of $224000. 8. Acquired an investment in Zynga stock for cash of $29400. 9. Converted bonds payable to common stock in the amount of $700000. 10. Repaid a 6-year note payable in the amount of $308000. What is the net cash provided by financing activities? O $847000. $161000. @ $553000 $(147000)

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

College Accounting Chapters 1-30

Authors: David Haddock, John Price, Michael Farina

16th Edition

1260247902, 978-1260247909

More Books

Students also viewed these Accounting questions

Question

c. Acafeteriawhere healthy, nutritionally balanced foods are served

Answered: 1 week ago