Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tamarisk, Inc.had the following transactions during 2022: 1. Issued $280000 of par value common stock for cash. 2. Recorded and paid wages expense of $134400.

Tamarisk, Inc.had 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? O ($152320). O ($40320). O $474880 O $967680.
image text in transcribed
Tamarisk, Inchad 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? (\$152320). (\$40320). $474880 $967680

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

Foundations Of Cost Control

Authors: Daniel Traster

1st Edition

0132156555, 978-0132156554

More Books

Students also viewed these Accounting questions

Question

How do you add two harmonic motions having different frequencies?

Answered: 1 week ago

Question

Describe the characteristics of a 360-degree performance appraisal.

Answered: 1 week ago