Reference no: EM132753360

Question - Carrot Company issued common stock for proceeds of $381,000 during 2019. The company paid dividends of $90,000 and issued a long-term note payable for $95,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $18,000. The financing section of the statement of cash flows will report net cash inflows of Jean's Vegetable Market had the following transactions during 2019:

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.

Q1. What is the net cash provided (used) by investing activities?

a. $15,000

b. $33,000

c. ($7,000)

d. $8,000

Q2. Which of the following would not be needed to determine net cash provided by operating activities?

a. Depreciation expense

b. Change in accounts receivable

c. Payment of cash dividends

d. Change in prepaid expenses