Constable, Inc. had the following transactions during 2022: 1. Issued $215,000 of par value common stock...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Constable, Inc. had the following transactions during 2022: 1. Issued $215,000 of par value common stock for cash. 2. Recorded and paid wages expense of $103,600. 3. Acquired land by issuing common stock of par value $85.000. 4. Declared and paid a cash dividend of $17,100. 5. Sold a long term investment (cost $5.510) for cash of $5.510. 6. Recorded cash sales of $680.000. 7. Bought inventory for cash of $273.500. 8. Acquired an investment in Zynga stock for cash of $36,890. 9. Converted bonds payable to common stock in the amount of $880,000 10. Repaid a 6-year note payable in the amount of $379,500. What is the net cash provided by (or used by) investing activities? (If it is not cash used by investing activities, enter the answer as a negative number by putting a negative () sign before the answer). Constable, Inc. had the following transactions during 2022: 1. Issued $215,000 of par value common stock for cash. 2. Recorded and paid wages expense of $103,600. 3. Acquired land by issuing common stock of par value $85.000. 4. Declared and paid a cash dividend of $17,100. 5. Sold a long term investment (cost $5.510) for cash of $5.510. 6. Recorded cash sales of $680.000. 7. Bought inventory for cash of $273.500. 8. Acquired an investment in Zynga stock for cash of $36,890. 9. Converted bonds payable to common stock in the amount of $880,000 10. Repaid a 6-year note payable in the amount of $379,500. What is the net cash provided by (or used by) investing activities? (If it is not cash used by investing activities, enter the answer as a negative number by putting a negative () sign before the answer).
Expert Answer:
Answer rating: 100% (QA)
SOLUTION To determine the net cash provided by or used by investing activities we need to identify the relevant transactions related to investments Lets analyze the given transactions 1 Issued 215000 ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
A Corporation had the following transactions during the year: 1. Issued $250,000 of par value common stock for cash. 2. Recorded and paid wages expense of $120,000. 3. Acquired land by issuing common...
-
The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares...
-
Let Z[] be the following set of rational numbers { a Z, k N} (and recall that N = {0, 1, 2,...} in this class). Let the addition and multiplication for Z[] be the usual addition and multiplication...
-
An abc-phase-sequence three-phase balanced wye-connected source supplies power to a balanced delta-connected load. The impedance per phase of the delta load is . If the line impedance is zero and the...
-
In Exercises find the center, foci, and vertices of the hyperbola, and sketch its graph using asymptotes as an aid. (y + 3)(x - 5) 225 64 1
-
No two species in a community can occupy the same (a) ecosystem. (b) biome. (c) niche. (d) level of the food chain.
-
Capacity and product mix decisions, linear programming Xu Company makes two types of wood doors: standard and deluxe. The doors are manufactured in a plant consisting of three departments: cutting,...
-
ournalize any necessary entries for Azalea Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
-
Critique the hints for picking passwords and explain why most users wouldnt follow the listed guidelines. List the pros and cons of federated identity management. from computer security basics...
-
Consider market for cars. There are 6 consumers labeled I = 1 , 2 . . . , 6 . Every consumer want to buy one car. In addition each consumer I has willingness to pay equal to I . There are two...
-
Wade Ellis buys a new car for $16,135.79. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2 (a) Find his monthly payment. interest for four years. (Round your...
-
Bavarian sausage just issued a 7 year 8% coupon bond. the face value of the bond is 1,000 and the bond makes annual coupon payments. If the bond is trading at $1006.83, what is the bonds yield to...
-
Create a tornado diagram to review sensitivity resource costs where Resource Cost = Operations Cost+ Legal Cost+ HR Cost +Marketing Cost ClockWatch Project Optimistic Most Likely Pessimistic...
-
Describe the disparity between anabolic and catabolic reactions and elucidate their common integration within metabolic pathways.
-
2. A massless spring of length I is used to suspend a mass m. The mass oscillates in the vertical axis, and the length of the spring is reduced at a constant rate dlldt = - a %3D (where a is a...
-
You are thinking of investing in one of two companies. In one annual report, the auditors opinion states that the financial statements were prepared in accordance with generally accepted accounting...
-
Olive Corporation was formed and began operations on January 1, 2012. The corporation's income statement for the year and the balance sheet at year-end are presented below. The corporation made...
-
Jan has two jobs during 2012. One employer withheld and paid FICA taxes on $66,600 of Jan's salary, and the other employer withheld and paid FICA taxes on $44,400 in salary paid to Jan. Calculate the...
-
Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....
-
Consider a situation in which you do not know the timing or amounts of individual cash flows. However, you do know the discounted and summed values of the revenues, \(\sum R t^{*}(P \mid F, M A R R,...
-
True or False: Benefits and disbenefits must be converted to monetary values to use benefit-cost analysis.
-
Elm City is considering a replacement for its police radio. The benefits and costs of the replacement are shown below. What is the replacement's benefit/cost ratio if the effective annual interest...
Study smarter with the SolutionInn App