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Zicklin Corporation had the following transactions during 2021: 1. Acquired an investment in Zynga stock...

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Accounting

Zicklin Corporation had the following transactions during 2021:

1. Acquired an investment in Zynga stock for cash of $21,000.

2. Issued $125,000 of par value common stock for cash.

3. Recorded wages expense of $6,000 and paid wage expenses of $5,000 in cash.

4. Received a cash dividend of $10,000 from Zynga Company.

5. Sold a long-term investment (cost $4,000) for cash of $4,000.

6. Recorded credit sales of $50,000 and receive cash of $40,000 from the credit sales.

7. Bought inventory for cash of $16,000.

What is the net cash provided by operating activities?

Multiple Choice

  • $29,000 inflow.

  • $39,000 inflow.

  • $28,000 inflow.

  • $27,000 inflow.

Answer & Explanation Solved by verified expert
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