Following data are from the statement of changes in financial position of Quezon Co. for the year 19x7: Net income, per income statement, P75,000 Acquisition of equipment, P4,000 Depreciation expense, P7,500 Loss on equipment sold, P1,200 Sale of investments, P6,000 Gain on sale of investments, P1,000 Cash dividends paid, P15,000 How much funds were provided by operations during the year?

Following data are from the statement of changes in financial position of Quezon Co. for the year 19x7: Net income, per income statement, P75,000 Acquisition of equipment, P4,000 Depreciation expense, P7,500 Loss on equipment sold, P1,200 Sale of investments, P6,000 Gain on sale of investments, P1,000 Cash dividends paid, P15,000 How much funds were provided by operations during the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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