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

Quizplus · Accepted Answer

The Answer of 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? A) $<105,000>. B) $395,000. C) $<605,000>. D) $115,000.

Zoum Corporation Had the Following Transactions During 2014