Angel Corporation's accounting records and financial statements for 2021 is as follows (P in millions): Cash paid to acquire machinery = P32; Retired share capital = P51; Proceeds from sale of land = P95; Gain from the sale of land = P50; Investment revenue received = P72; Cash paid to acquire office equipment = P85. In its statement of cash flows, the company should report net cash flows from investing activities of: A. P22 million outflows B. P50 million outflows C. P100 million inflows D. P28 million inflows

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is