Ask Question
BusinessBusiness
20 October, 17:50

Smiley Corp.'s transactions for the year ended December 31, 2018 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.

ssued 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 2018 was

a. $450,000.

b. $350,000.

c $900,000.

d. $850,000.

+2
Answers (2)
  1. 20 October, 18:04
    0
    b. - $350,000

    Explanation:

    The calculation of net cash used in financing activities is shown below:-

    Net cash used in cash flow from financing activities = Borrow from bank - Dividend paid + Issue common Stock - Loan repaid

    = $1,250,000 - $1,200,000 + $500,000 - $900,000

    = - $350,000

    Therefore for calculating the net cash used in financing activities we simply applied the above formula.
  2. 20 October, 20:34
    0
    The following information was taken from the 2018 financial statements of Dunlop Corporation:

    Bonds payable, January 1, 2018

    $ 800,000

    Bonds payable, December 31, 2018

    4,800,000

    During 2018

    • A $720,000 payment was made to retire bonds payable with a face amount of $800,000.

    • Bonds payable with a face amount of $320,000 were issued in exchange for equipment.

    In its statement of cash flows for the year ended December 31, 2018, what amount should Dunlop report as proceeds from issuance of bonds payable?
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Smiley Corp.'s transactions for the year ended December 31, 2018 included the following: Purchased real estate for $1,250,000 cash which ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Investing in, controlling, and managing value-added activities in another country is called:
Answers (1)
A company that produces a single product had a net operating income of $90,000 using variable costing and a net operating income of $125,750 using absorption costing.
Answers (2)
The Bretton woods system of exchange rates relied on A. Fixed exchange rates with no mechanism for changing them. B. Fixed or pegged exchange rates, with occasional orderly adjustments to the rates. C.
Answers (1)
Why does the democratic style of leadership promote greater creativity among employees than the other styles of leadership?
Answers (1)
Which of the following account login credentials is most important to keep secure? 1. Credit Card website 2. 401 (k) website 3. Primary Email account 4. Mortgage website 5. Bank website
Answers (1)
New Questions in Business
Evelyn took out a car loan for $16,125 that has a 0% APR for the first 14 months and will be paid off with monthly payments over 6 years. For how many months will Evelyn be charged interest?
Answers (1)
When an impairment of an investment that is classified as available for sale occurs for a reason that is judged to be "other than temporary," the investment is written down to its fair value and the amount of the write-down is:-Recorded as a
Answers (1)
Which education level has the highest return on investment (ROI) ? A) High School Diploma B) Bachelor's Degree (4 years of college) C) Senior in High School D) ROI is equal for all of the above.
Answers (1)
In 2019, Meghann Carlson, a single taxpayer, has QBI of $129,100 and modified taxable income of $103,280 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's QBI deduction
Answers (1)
Which of these is not a factor you need to consider when choosing a bank? a. The number of ATM machines b. Branch locations c. How often you need access to your money d. The amount of money you paid in income taxes last year
Answers (1)
Home » Business » Smiley Corp.'s transactions for the year ended December 31, 2018 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.
Sign Up Forgot Password?