Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty's Vegetable Market had the following transactions during 2016: 1. Issued $45000 of par value common stock for cash. 2. Repaid a 6 year note

image text in transcribed

Swifty's Vegetable Market had the following transactions during 2016: 1. Issued $45000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22400. 3. Acquired land by issuing common stock of par value $95000. 4. Declared and paid a cash dividend of $1800. 5. Sold a long-term investment (cost $3000) for cash of $7600. 6. Acquired an investment in IBM stock for cash of $14800. What is the net cash provided (used) by investing activities? O $27400 S7600 $14800 (57200)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions