A long-term investment was sold in 2018 for $320,000. There were no othertransactions affecting long-term investments in 2018.20,000 shares of common stock were issued in 2018 for $25 a share.Short-term investments consist of treasury bills maturing on 6/30/19.Net cash provided by Jamison's 2018 operating activities was$1,500,000.$2,160,000.$2,120,000.$2,080,000. Jamison Corp.'s balance sheet accounts as of December 31, 2018 and 2017 and informationrelating to 2018 activities are presented below.December 31,20182017AssetsCash$ 440,000$ 200,000Short-term investments600,000Accountsreceivable (net)1,020,0001,020,0001,380,000Inventory1,200,000Long-term investments600,000Plant assets400,0003,400,0002,000,000Accumulated depreciation(900,000)Patent(900,000)180,000200,000Total assets$6,520,000$4,320,000Liabilities and Stockholders' Equityраyable$1,660,000Accountsandaccrued liabilities$1,440,000Notespayable (nontrade)580,000Commonstock,$10 par1,600,0001,400,000Additionalpaid-in capitalRetained earnings800,000500,0001,880,000980,000Totalliabilitiesandstockholders' equity$6,520,000$4,320,000Information relating to 2018 activities:Net income for 2018 was $1,500,000.Cash dividends of $600,000 were declared and paid in 2018.Equipment costing $1,000,000 and having a carrying amount of $320,000 wassold in 2018 for $360,000.

Cash flow statement (CFS) is a financial statement which shows the flows of cash and cash equivalent…

Answered: Net cash provided by Jamison's 2018…

Business

Accounting

Net cash provided by Jamison's 2018 operating activities was $1,500,000. $2,160,000. $2,120,000. $2.080.000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A-5
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