Zoum Corporation had the following transactions during 2014:
1- 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 financing activities? Question 11
In order to determine net cash provided by operating activities, a company must convert net income from an accrual basis to a cash basis under Question 12
The information to prepare the statement of cash flows comes from all of the following sources except Question 13
Peninsula Company reported net income of $ 260,000 for the year. During the year, accounts receivable increased by $ 21,000, accounts payable decreased by $ 9,000 and depreciation expense of $ 45,000 was recorded. Net cash provided by operating activities for the year is Question 14
In calculating cash flows from operating activities using the indirect method, a loss on the sale of equipment will appear as a( n)