Jean’s Vegetable Market had the following transactions during 2014: 1. Issued $5

Question

Jean’s Vegetable Market had the following transactions during 2014: 1. Issued $50,000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22,000. 3. Acquired land by issuing common stock of par value $100,000. 4. Declared and paid a cash dividend of $2,000. 5. Sold a long-term investment (cost $3,000) for cash of $8,000. 6. Acquired an investment in IBM stock for cash of $15,000. What is the net cash provided (used) by investing activities? Select one: $15,000 $33,000 ($7,000) $8,000

Explanation / Answer

Net cash provided /(used) by investing activity :

Long term investment             8000

Investment purchased              -15000

Net cash used                      - 7000

correct option is "C"

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