Multiple Choice Question 65 Sheridan\'s vegetable Market had the following trans

Question

Multiple Choice Question 65 Sheridan's vegetable Market had the following transactions during 2016: 1. Issued $46000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $15000. 3. Acquired land by issuing common stock of par value $46000. 4. Declared and paid a cash dividend of $6500. 5. Sold a long-term investment (cost $3200) for cash of $6400. 6. Acquired an investment in IBM stock for cash of $9800. What is the net cash provided by financing activities? O$62300 O $24500 O$31000o O so

Explanation / Answer

65.

Net cash provided by financing activities = Issue of common stock - Repayment of note payable – Payment of dividend

Net cash provided by financing activities = $46,000 - $15,000 - $6,500 = $24,500

Hence, correct answer is $24,500

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