Sheffield’s Vegetable Market had the following transactions during 2016: 1. Issued $49000 of par value common...
Sheffield’s Vegetable Market had the following transactions during 2016:
1. Issued $49000 of par value common stock for
cash.
2. Repaid a 6 year note payable in the amount of $23300.
3. Acquired land by issuing common stock of par value
$104000.
4. Declared and paid a cash dividend of $2400.
5. Sold a long-term investment (cost $2600) for cash of
$8100.
6. Acquired an investment in IBM stock for cash of
$14500.
What is the net cash provided (used) by investing activities?
A. ($6400)
B. $8100
C. $14500
D. $30700
Homework Answers
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