Waterway’s Vegetable Market had the following transactions during 2020: 1. Issued $50000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22200. 3. Acquired land by issuing common stock of par value $99000. 4. Declared and paid a cash dividend of $2200. 5. Sold a long-term investment (cost $3100) for cash of $7500. 6. Acquired an investment in IBM stock for cash of $14800. What is the net cash provided (used) by investing activities? a. ($7300) b. $7500 c. $33100 d. $14800
Waterway’s Vegetable Market had the following transactions during 2020: 1. Issued $50000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22200. 3. Acquired land by issuing common stock of par value $99000. 4. Declared and paid a cash dividend of $2200. 5. Sold a long-term investment (cost $3100) for cash of $7500. 6. Acquired an investment in IBM stock for cash of $14800. What is the net cash provided (used) by investing activities? a. ($7300) b. $7500 c. $33100 d. $14800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Waterway’s Vegetable Market had the following transactions during 2020:
1. Issued $50000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $22200.
3. Acquired land by issuing common stock of par value $99000.
4. Declared and paid a cash dividend of $2200.
5. Sold a long-term investment (cost $3100) for cash of $7500.
6. Acquired an investment in IBM stock for cash of $14800.
What is the net cash provided (used) by investing activities?
1. Issued $50000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $22200.
3. Acquired land by issuing common stock of par value $99000.
4. Declared and paid a cash dividend of $2200.
5. Sold a long-term investment (cost $3100) for cash of $7500.
6. Acquired an investment in IBM stock for cash of $14800.
What is the net cash provided (used) by investing activities?
a. ($7300)
b. $7500
c. $33100
d. $14800
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education