Swifty Corporation's transac
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Swifty Corporation's transactions for the year ended December 31, 2021 included the following:
• Purchased real estate for $1245000 cash which was borrowed from a bank.
• Sold available-for-sale securities for $1080000.
• Paid dividends of $1180000.
• Issued 550 shares of common stock for $550000.
• Purchased machinery and equipment for $250000 cash.
• Paid $908000 toward a bank loan.
• Reducedaccounts receivable by $195000.
• Increased accounts payable $396000.
Swifty's net cash used in financing activities for 2021 was
• Purchased real estate for $1245000 cash which was borrowed from a bank.
• Sold available-for-sale securities for $1080000.
• Paid dividends of $1180000.
• Issued 550 shares of common stock for $550000.
• Purchased machinery and equipment for $250000 cash.
• Paid $908000 toward a bank loan.
• Reduced
• Increased accounts payable $396000.
Swifty's net cash used in financing activities for 2021 was
$843000.
$445000.
$908000.
$293000.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education