Question

Bonita’s Vegetable Market had the following transactions during 2017:

1. Issued $47000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $24000.
3. Acquired land by issuing common stock of par value $47000.
4. Declared and paid a cash dividend of $7200.
5. Sold a long-term investment (cost $3500) for cash of $5600.
6. Acquired an investment in IBM stock for cash of $9500.
Required:
1. What is the net cash provided by financing activities?

Answer 1

$15,800

Step-by-step explanation:

CASH FLOW FROM FINANCING ACTIVITIES:

Issued common stock $47,000

Paid Note Payable ($24,000)

Paid cash dividend ($7,200)

Net Cash Inflow (Outflow) from Financing Activities $15,800