Peavy Corp.'s transactions for the year ended December 31, 2021 included the following: • Acquired 50% of Gant Corp.'s common stock for $300,000 cash which was borrowed from a bank. • Issued 5,000 shares of its preferred stock for land having a fair value of $480,000. • Issued 600 of its 11% debenture bonds, due 2026, for $588,000 cash. • Purchased a patent for $330,000 cash. • Paid $180,000 toward a bank loan. • Sold available-for-sale securities for $1,194,000. • Had a net increase in returnable customer deposits (long-term) of $132,000.Peavy's net cash provided by investing activities for 2021 was $414,000. $864,000. $564,000. $894,000.
Peavy Corp.'s transactions for the year ended December 31, 2021 included the following: • Acquired 50% of Gant Corp.'s common stock for $300,000 cash which was borrowed from a bank. • Issued 5,000 shares of its preferred stock for land having a fair value of $480,000. • Issued 600 of its 11% debenture bonds, due 2026, for $588,000 cash. • Purchased a patent for $330,000 cash. • Paid $180,000 toward a bank loan. • Sold available-for-sale securities for $1,194,000. • Had a net increase in returnable customer deposits (long-term) of $132,000.Peavy's net cash provided by investing activities for 2021 was $414,000. $864,000. $564,000. $894,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 39
Peavy Corp.'s transactions for the year ended December 31, 2021 included the following:
bank.
Peavy's net cash provided by investing activities for 2021 was
| • | Acquired 50% of Gant Corp.'s common stock for $300,000 cash which was borrowed from a |
| • | Issued 5,000 shares of its |
| • | Issued 600 of its 11% debenture bonds, due 2026, for $588,000 cash. |
| • | Purchased a patent for $330,000 cash. |
| • | Paid $180,000 toward a bank loan. |
| • | Sold available-for-sale securities for $1,194,000. |
| • | Had a net increase in returnable customer deposits (long-term) of $132,000. |
|
$414,000.
|
||
|
$864,000.
|
||
|
$564,000.
|
||
|
$894,000.
|
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