Explanation: Use the market value of stock for the entry. 1.80
8000 = 14,400
10. Logan Corporation issues 50,000 shares of $50 par value preferred
stock for cash at $60 per share. The entry to record the transaction will
consist of a debit to Cash for $3,000,000 and a credit or credits to
11. Jahnke Corporation issued 8,000 shares of €2 par value ordinary
shares for €11 per share. The journal entry to record the sale will
credit to Share Premium–Ordinary for €72,000.
12. Zoum Corporation had the following transactions during 2014:
Issued $125,000 of par value common stock for cash.
Recorded and paid wages expense of $60,000.
Acquired land by issuing common stock of par value $50,000.
Declared and paid a cash dividend of $10,000.
Sold a long-term investment (cost $3,000) for cash of $3,000.
Recorded cash sales of $400,000.
Bought inventory for cash of $160,000.
Acquired an investment in Zynga stock for cash of $21,000.
Converted bonds payable to common stock in the amount of
Repaid a 6 year note payable in the amount of $220,000.
What is the net cash provided by financing activities?