Question
Financial Accounting questions, need answer
1)Zoum Corporation had the following transactions during 2014: l. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $10,000 5. Sold a long-term investment cost $3,000) for cash of $3,000. 6. Recorded cash sales of $400,000 7. Bought inventory for cash of $160,000. 8. Acquired an investment in Zynga stock for cash of $21, 000. 9. Converted bonds payable to common stock in the amount of $500,000 10. Repaid a 6 year note payable in the amount of $220, 000. What is the net cash provided by operating activities? a. $305, 000 lb. $290,000 c. $240,000 d. $180,000
Explanation / Answer
Solution is in this pic - http://tinypic.com/r/n5q3ys/5