Question
Jean's Vegetable Market had the following transactions during 2014: 1) Issued $50,000 of par value common stock for cash. 2) Repaid a 6 year note
Jean's Vegetable Market had the following transactions during 2014:
1) Issued $50,000 of par value common stock for cash.
2) Repaid a 6 year note payable in the amount of $22,000.
3) Acquired land by issuing common stock of par value $50,000.
4) Acquired land by issuing common stock of par value $50,000.
5) Declared and paid a cash dividend of $7,000.
6) Sold a long-term investment (cost $3,000) for cash of $6,000.
7) Acquired an investment in IBM stock for cash of $10,000
What is the net cash provided by financing activities?
A) $0
B) $21,000
C) $28,000
D) $67,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Net cash provided by financing activities is the 21000 Option B i...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App