22. The following are an excerpt from the consolidated statement of changes in equity of Lychee Holdings Inc. and Subsidiaries for the year ended December 31, 2020: • Capital stock- P2,916,845,000 • Treasury shares- P760,088,000 • Additional paid-in capital- P856,684,000 • Retained earnings- P6,143,508,000 • Equity reserves (It pertains to the difference between the consideration transferred and the equity acquired in a common control business combination)- P264,560,000 • Remeasurement loss on defined benefit plan- P29,294,000 • Net unrealized gain on equity instruments at fair value through OCI- P9,517,000 • Non-controlling interests- P2,723,129,000 How much is the total shareholders’ equity as of December 31, 2020? answer- P12,124,861,000
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22. The following are an excerpt from the consolidated statement of changes in equity of Lychee
Holdings Inc. and Subsidiaries for the year ended December 31, 2020:
• Capital stock- P2,916,845,000
• Treasury shares- P760,088,000
• Additional paid-in capital- P856,684,000
•
• Equity reserves (It pertains to the difference between the consideration transferred and the
equity acquired in a common control business combination)- P264,560,000
• Remeasurement loss on defined benefit plan- P29,294,000
• Net unrealized gain on equity instruments at fair value through OCI- P9,517,000
• Non-controlling interests- P2,723,129,000
How much is the total shareholders’ equity as of December 31, 2020?
answer- P12,124,861,000
24. Melon Co. uses the direct method to prepare its statement of
cash flows during 2020:
• Cash receipts from issuance of ordinary shares - P800,000
• Cash receipts from customers- P400,000
• Cash receipts from dividends in long term investments- P60,000
• Cash receipts from repayment of loan made to another company- P440,000
• Cash payments for wages and other operating expenses- P240,000
• Cash payment for insurance- P20,000
• Cash payments for dividends- P40,000
• Cash payments for taxes-P80,000
• Cash payment to purchase land- P160,000
What is the net cash provided (used) from operating activities?
a) P(P40,000)
b) P80,000
c) P120,000-answer
d) P60,000
27. Kiwi Corporation had income from continuing operations of P800,000 (after taxes) in 2021. In
addition, the following information (before tax deduction; the tax rate is 30%) has not been considered:
1. On December 31, 2021, Kiwi experienced a fire in its warehouse and incurred a loss on
inventory amounting to P200,000.
2. A machine was sold for P140,000 cash during the year at a time when its book value was
P110,000. (Depreciation has been properly recorded.) The company often sells machinery of this
type.
3. Kiwi decided to discontinue its stereo division in 2021. During the current year, the loss on the
disposal of this component of the business was P150,000 less applicable taxes.
How much is the total profit (net of tax) on December 31, 2021?
answer: P576,000
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