Sheridan's Organic Produce Market had the following transactions during 2022: 1. Issued $47000 of common stock at par for cash. 2. Repaid a 6 year note payable in the amount of $21400. 3. Acquired land by issuing common stock at par for $95000. 4. Declared and paid a cash dividend of $2000. 5. Sold a long-term investment (cost $3400) for cash of $8000. 6. Acquired an investment in IBM stock for cash of $15300. What is the net cash provided (used) by investing activities? $8000 $31000 $15300 ($7300)

Sheridan's Organic Produce Market had the following transactions during 2022: 1. Issued $47000 of common stock at par for cash. 2. Repaid a 6 year note payable in the amount of $21400. 3. Acquired land by issuing common stock at par for $95000. 4. Declared and paid a cash dividend of $2000. 5. Sold a long-term investment (cost $3400) for cash of $8000. 6. Acquired an investment in IBM stock for cash of $15300. What is the net cash provided (used) by investing activities? $8000 $31000 $15300 ($7300)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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