Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Zicklin Corporation had the following transactions during 2021: 1. Acquired an investment in Zynga stock for cash of $21,000. 2. Issued $125,000 of par value

Zicklin Corporation had the following transactions during 2021: 1. Acquired an investment in Zynga stock for cash of $21,000. 2. Issued $125,000 of par value common stock for cash. 3. Recorded wages expense of $6,000 and paid wage expenses of $5,000 in cash. 4. Received a cash dividend of $10,000 from Zynga Company. 5. Sold a long-term investment (cost $4,000) for cash of $4,000. 6. Recorded credit sales of $50,000 and receive cash of $40,000 from the credit sales. 7. Bought inventory for cash of $16,000. What is the net cash provided by investing activities? Multiple Choice $16,000 outflow $4,000 inflow $18,000 outflow $17,000 outflow

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

Accounting For Deferred Income Taxes

Authors: Bobby Carmichael

2nd Edition

1119724562, 9781119724568

More Books

Students also viewed these Accounting questions

Question

Define self-esteem and discuss its impact on your life.

Answered: 1 week ago