Multiple Choice Question 81 Whispering Winds Corp.had the following transactions
ID: 2433260 • Letter: M
Question
Multiple Choice Question 81
Whispering Winds Corp.had the following transactions during 2017:
1. Issued $235000 of par value common stock for cash.
2. Recorded and paid wages expense of $112800.
3. Acquired land by issuing common stock of par value $94000.
4. Declared and paid a cash dividend of $18800.
5. Sold a long-term investment (cost $5640) for cash of $5640.
6. Recorded cash sales of $752000.
7. Bought inventory for cash of $300800.
8. Acquired an investment in Zynga stock for cash of $39480.
9. Converted bonds payable to common stock in the amount of $940000.
10. Repaid a 6-year note payable in the amount of $413600.
What is the net cash provided (used) by investing activities?
($127840).
($33840).
$812160.
$398560
Multiple Choice Question 83
Blossom Company purchased treasury stock with a cost of $73200 during 2017. During the year, the company paid dividends of $26600 and issued bonds payable for proceeds of $1165100. Cash flows from financing activities for 2017 total
$1211700 net cash inflow.
$99800 net cash outflow.
$1065300 net cash inflow.
$1138500 net cash inflow.
Multiple Choice Question 145
If a loss of $10600 is incurred in selling (for cash) office equipment having a book value of $106200, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
$10600.
$95600.
$106200.
$116800.
($127840).
Explanation / Answer
81 Sold a long-term investment 5640 Acquired an investment in Zynga stock -39480 Net cash provided (used) by investing activities -33840 Option 2 is correct 83 Cash flows from financing activities for 2017 = 1165100-73200-26600= $1065300 net cash inflow. Option 3 is correct 145 Total amount reported in the cash flows from investing activities section = 106200-10600 = $95600 Option 2 is correct
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