Use the Following Information for Questions 113 and 114 $\bullet$ Purchased Real Estate for $625,000 Cash Which Was Borrowed from Corp.'s

question 88

Multiple Choice

Use the following information for questions 113 and 114.
Smiley Corp.'s transactions for the year ended December 31, 2015 included the following:
$\bullet$ Purchased real estate for $625,000 cash which was borrowed from a bank.
$\bullet$ Sold available-for-sale securities for $500,000.
$\bullet$ Paid dividends of $600,000.
$\bullet$ Issued 500 shares of common stock for $250,000.
$\bullet$ Purchased machinery and equipment for $125,000 cash.
$\bullet$ Paid $450,000 toward a bank loan.
$\bullet$ Reduced accounts receivable by $100,000.
$\bullet$ Increased accounts payable $200,000.
-Smiley's net cash used in financing activities for 2015 was

• A) $225,000.
• B) $175,000.
• C) $450,000.
• D) $425,000.

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Definitions:

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