Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vaughn Manufacturinghad the following transactions during 2022: 1. Issued $317500 of par value common stock for cash. 2. Recorded and paid wages expense of $152400.

image text in transcribed
image text in transcribed
Vaughn Manufacturinghad the following transactions during 2022: 1. Issued $317500 of par value common stock for cash. 2. Recorded and paid wages expense of $152400. 3. Acquired land by issuing common stock of par value $127000. 4. Declared and paid a cash dividend of $25400. 5. Sold a long-term investment (cost $7620) for cash of $7620. 6. Recorded cash sales of $1016000. 7. Bought inventory for cash of $406400. 8. Acquired an investment in Zynga stock for cash of $53340. 9. Converted bonds payable to common stock in the amount of $1270000. 10. Repaid a 6-year note payable in the amount of $558800. What is the net cash provided by investing activities? $538480 ($45720). $1097280. ($172720)

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

For Mowen/hansen/heitgers Cornerstones Of Managerial Accounting, 6th Edition, [instant Access]

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

6th Edition

1305280768, 9781305280762

More Books

Students also viewed these Accounting questions