How much is the total net cash flow? O P430.000 O P270.000 O P620.000 O P695,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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How much is the total net cash flow? O P430.000 O P270.000 O P620.000 O P695,000
The following changes in the statement of financial position accounts of MGT were gathered for preparation
of Statement on Cash Flow:
Increase (Decrease)
Cash
270,000
Short-term investment
200,000
Accounts receivable
(20,000)
Inventory
100,000
Noncurrent investment
(100,000)
Equipment
700,000
Accumulated depreciation increase 50,000
Accounts payable
(5,000)
Dividends payable
160,000
Short-term notes, non-trade
300,000
Transcribed Image Text:The following changes in the statement of financial position accounts of MGT were gathered for preparation of Statement on Cash Flow: Increase (Decrease) Cash 270,000 Short-term investment 200,000 Accounts receivable (20,000) Inventory 100,000 Noncurrent investment (100,000) Equipment 700,000 Accumulated depreciation increase 50,000 Accounts payable (5,000) Dividends payable 160,000 Short-term notes, non-trade 300,000
Accounts payable
(5,000)
Dividends payable
160,000
Short-term notes, non-trade
300,000
Long-term debts
130,000
Ordinary share, P10 par
150,000
Share premium (APIC)
75,000
Accumulated profits
290,000
The following additional information relates to the same year:
1. Net income was P1,090,000.
2. Cash dividend declared was P800,000.
3. Equipment costing P600,000 and having carrying cost of P350,000 was sold for P350,000.
Transcribed Image Text:Accounts payable (5,000) Dividends payable 160,000 Short-term notes, non-trade 300,000 Long-term debts 130,000 Ordinary share, P10 par 150,000 Share premium (APIC) 75,000 Accumulated profits 290,000 The following additional information relates to the same year: 1. Net income was P1,090,000. 2. Cash dividend declared was P800,000. 3. Equipment costing P600,000 and having carrying cost of P350,000 was sold for P350,000.
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