Question

Waterway’s Vegetable Market had the following transactions during 2017: 1. Issued $50000 of par value common...

Waterway’s Vegetable Market had the following transactions during 2017:

1. Issued $50000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $23400.
3. Acquired land by issuing common stock of par value $100000.
4. Declared and paid a cash dividend of $1500.
5. Sold a long-term investment (cost $2700) for cash of $7800.
6. Acquired an investment in IBM stock for cash of $15400.

What is the net cash provided used by investing activities?

$30800

$7800

$15400

($7600)

Business   Accounting   
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Answer #1
SR NO. PARTICULARS ACTIVITY
1 ISSUE OF STOCK FINANCING
2 NOTE PAYABLE FINANCING
3 ACQUIRED LAND BY COMMON STOCK NON CASH ACTIVITY
4 CASH DIVIDEND PAID FINANCING
5 SALE OF LONG TERM INVST INVESTING
6 PURCAHSE OF INVESTMENT INVESTING
NET CASH FLOW FROM INVESTING ACTIVITY
SR NO. PARTICULARS AMOUNT
5 SALE OF LONG TERM INVESTMENT 7800
6 ACQUIRED INVESTMENT OF IBM STOCK -15400
NET CASH FLOW FROM INVESTING ACTIVITY -7600
SO OPTION D ($7600) IS CORRECT
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