12) JAE Corp.'s transactions for the year ended December 31, 20X8 included the following: Purchased real estate for $1,250,000 cash. Sold available-for-sale securities for $1,000,000. Paid dividends of $1,200,000. Issued 500 shares of common stock for $500,000. Purchased machinery and equipment for $250,000 cash. Received a $250,000 cash dividend from an equity investment. Paid $900,000 toward a bank loan. Reduced accounts receivable by $200,000. Increased accounts payable $400,000. JAE Corp's net cash used in INVESTING activities for 20X8 was: a) $250,000. b) $500,000. c) $750,000. d) $1,500,000.
12) JAE Corp.'s transactions for the year ended December 31, 20X8 included the following: Purchased real estate for $1,250,000 cash. Sold available-for-sale securities for $1,000,000. Paid dividends of $1,200,000. Issued 500 shares of common stock for $500,000. Purchased machinery and equipment for $250,000 cash. Received a $250,000 cash dividend from an equity investment. Paid $900,000 toward a bank loan. Reduced accounts receivable by $200,000. Increased accounts payable $400,000. JAE Corp's net cash used in INVESTING activities for 20X8 was: a) $250,000. b) $500,000. c) $750,000. d) $1,500,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:12) JAE Corp.'s transactions for the year ended December 31, 20X8 included the following:
Purchased real estate for $1,250,000 cash.
Sold available-for-sale securities for $1,000,000.
Paid dividends of $1,200,000.
Issued 500 shares of common stock for $500,000.
Purchased machinery and equipment for $250,000 cash.
Received a $250,000 cash dividend from an equity investment.
Paid $900,000 toward a bank loan.
Reduced accounts receivable by $200,000.
Increased accounts payable $400,000.
JAE Corp's net cash used in INVESTING activities for 20X8 was:
a) $250,000.
b) $500,000.
c) $750,000.
d) $1,500,000.
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