Question

Kingbird, Inc.had the following transactions during 2022: 1. Issued $340000 of par value common stock for cash. 2. Recorded and paid wages expense of $163200. 3. Acquired land by issuing common stock of par value $136000. 4. Declared and paid a cash dividend of $27200. 5. Sold a long-term investment (cost $8160) for cash of $8160. 6. Recorded cash sales of $1088000. 7. Bought inventory for cash of $435200. 8. Acquired an investment in Zynga stock for cash of $57120. 9. Converted bonds payable to common stock in the amount of $1360000. 10. Repaid a 6-year note payable in the amount of $598400. What is the net cash provided by investing activities

Answer 1

Answer: -$‭48,960‬

Step-by-step explanation:

Investing activities are those that have to do with Capital expenses. These include fixed assets and investments into the securities of other companies.

From the transactions listed, the following are investing activities:

5. Sold a long-term investment (cost $8160) for cash of $8,160.

8. Acquired an investment in Zynga stock for cash of $57,120.

Net cash from investing activities is therefore:

= Cash inflows - Cash outflows

= 8,160 - 57,120

= -$‭48,960‬