IZZY Company recorded the following transactions for the year 2018: Collecnon of sccounts recervable Purchafes of patent for cash Dividends paad Acquieinon of South Company ondinary shares for cash Sale of nvestment securities for cash Issuance of P3,750,000 face value bonds for cash Payment of accounts payable Acquisidon of land through the iswance of 30,000 oedinary shares, par P100 Dividends received Payment of bank lonn 3,900,000 1,125,000 1,125,000 2,625,000 2,250,000 3,900,000 1,875,000 3,600,000 900,000 1,500,000 Additional information: 1. The net income for the period amounted to P4,875,000. 2. The cash paid for the shares acquired from South Company was barrowed from Partner Commercial Bank. Required: Compute the following: 1. Net cash provided by financing activities 2. Net cash used by investing activitics

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ll 51566
6:01 PM
IZZY Company recorded the following transactions for the year 2018:
Collecton of sccounts recervable
Purchafes of patent for cash
Dividends paad
Acquisition of South Company ondinary shares for cash
Sale of investment securities for cash
Issuance of P3,750,000 face value bonds for cash
Payment of accounts payable
Acquisition of land through the issuance of 30,000 ordinary
shares, par P100
Dividends received
Payment of bank loan
3,900,000
1,125,000
1,125,000
2,625,000
2,250,000
3,900,000
1,875,000
3,600,000
900,000
1,500,000
Additional information:
1. The net income for the period amouanted to P4,875,000.
2. The cash paid for the shares acquired from South Company was borrowed from Partner
Commercial Bank.
Required: Compute the following:
1. Net cash provided by financing activities
2. Net cash used by investing activities
Transcribed Image Text:ll 51566 6:01 PM IZZY Company recorded the following transactions for the year 2018: Collecton of sccounts recervable Purchafes of patent for cash Dividends paad Acquisition of South Company ondinary shares for cash Sale of investment securities for cash Issuance of P3,750,000 face value bonds for cash Payment of accounts payable Acquisition of land through the issuance of 30,000 ordinary shares, par P100 Dividends received Payment of bank loan 3,900,000 1,125,000 1,125,000 2,625,000 2,250,000 3,900,000 1,875,000 3,600,000 900,000 1,500,000 Additional information: 1. The net income for the period amouanted to P4,875,000. 2. The cash paid for the shares acquired from South Company was borrowed from Partner Commercial Bank. Required: Compute the following: 1. Net cash provided by financing activities 2. Net cash used by investing activities
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