Question

Jean's Vegetable Market had the following transactions during 2017: 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. Declared and paid a cash dividend of $7,000. 5. Sold a long-term investment (cost $3,000) for cash of $6,000. 6. Acquired an investment in IBM stock for cash of $10,000. What is the net cash provided by financing activities?

Answer 1

Answer:

$21,000

Explanation:

Calculation the net cash provided by financing activities

Par value common stock for cash $50,000

LESS Note payable ($22,000)

LESS Cash dividend of ($7,000)

NET CASH $21,000

Therefore the net cash provided by financing activities will be $21,000