Peavy Corp.'s transactions for the year ended December 31, 2018 included the following: • Acquired 50%...
Peavy Corp.'s transactions for the year ended December 31, 2018 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 2023, 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.
what was peavy's net cash provided by investing activities and net cash provided by financing activities for 2018
Homework Answers
Calculation of Peavy's net cash provided by investing activities.
| Acquired 50% of Gant Corp.'s common stock | ($300,000) |
| Purchased a patent | ($330,000) |
| Sold available-for-sale securities | $1,194,000 |
| Net cash provided by investing activities | $564,000 |
Calculation of Peavy's net cash provided by financing activities
| Borrowed from bank | $300,000 |
| Issue of 11% debenture bonds | $588,000 |
| Payment of Bank loan | ($180,000) |
| Increase in returnable customer deposits | $132,000 |
| Net cash provided by financing activities | $840,000 |
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