Sheffields Vegetable Market had the following transactions d

Sheffield’s Vegetable Market had the following transactions during 2016:

1. Issued $54000 of par value common stock for cash.
2. Repaid a 6 year note payable in the amount of $25000.
3. Acquired land by issuing common stock of par value $54000.
4. Declared and paid a cash dividend of $7300.
5. Sold a long-term investment (cost $2500) for cash of $6000.
6. Acquired an investment in IBM stock for cash of $10400.

What is the net cash provided by financing activities?

Solution

Net cash provided by financing activities = $ 21,700 Calculation of net cash provided by financing activities :- Value of common stock issued for cash = $ 54,000 Less: Repayment of Note Payable = $ 25,000 Less: Cash dividend declared and paid = $   7,300 Net cash provided by financing activities = $ 21,700