Smiley Corp.'s transactions for the year ended December 31, 2021 included the following: • Purchased real estate for $1,250,000 cash which was borrowed from a bank. • Sold available-for-sale securities for $1,000,000. • Paid dividends of $1,200,000. • Issued 500 shares of common stock for $500,000. • Purchased machinery and equipment for $250,000 cash. • Paid $900,000 toward a bank loan. • Reduced accounts receivable by $200,000. • Increased accounts payable $400,000.Smiley's net cash used in financing activities for 2021 was $850,000. $900,000. $450,000. $350,000.
Smiley Corp.'s transactions for the year ended December 31, 2021 included the following: • Purchased real estate for $1,250,000 cash which was borrowed from a bank. • Sold available-for-sale securities for $1,000,000. • Paid dividends of $1,200,000. • Issued 500 shares of common stock for $500,000. • Purchased machinery and equipment for $250,000 cash. • Paid $900,000 toward a bank loan. • Reduced accounts receivable by $200,000. • Increased accounts payable $400,000.Smiley's net cash used in financing activities for 2021 was $850,000. $900,000. $450,000. $350,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 48
Smiley Corp.'s transactions for the year ended December 31, 2021 included the following:
Smiley's net cash used in financing activities for 2021 was
| • | Purchased real estate for $1,250,000 cash which was borrowed from a bank. |
| • | Sold available-for-sale securities for $1,000,000. |
| • | Paid dividends of $1,200,000. |
| • | Issued 500 shares of common stock for $500,000. |
| • | Purchased machinery and equipment for $250,000 cash. |
| • | Paid $900,000 toward a bank loan. |
| • | Reduced |
| • | Increased accounts payable $400,000. |
|
$850,000.
|
||
|
$900,000.
|
||
|
$450,000.
|
||
|
$350,000.
|
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