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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
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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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? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
Transcribed Image Text: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? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
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