Layla Corp. is preparing its statement of cash flows for the year ended Dec. 31, 2021 and has provided the following information: Profit before income tax Depreciation on property, plant and equipment Provision for impairment losses Unrealized foreign exchange gains Fair value adjustment gain on FA at FVTPL Fair value adjustment loss on FA at FVTOCI Fair value adjustment loss on investment property Share of profit of associate Gain on sale of FA at AC Loss on sale of equipment Gain on debt extinguishment Gain on distribution of non-cash assets to owners Interest expense Interest payable, beginning of the year Interest payable, end of the year Interest income P880,000 250,000 150,000 60,000 130,000 65,000 190,000 220,000 85,000 70,000 125,000 40,000 150,000 100,000 50,000 80,000 30,000 20,000 Interest receivable, beginning of the year Interest receivable, end of the year Income taxes paid Accounts receivable, beginning of the year Accounts receivable, end of the year Inventory, beginning of the year Inventory, end of the year Accounts payable, beginning of the year Accounts payable, end of the year • The change in FA at FVTPL represents the fair value adjustment. Required: Using the indirect method, prepare the operating activities section of the entity's statement of cash flows for the year ended Dec. 31, 2021 260,000 500,000 850,000 500,000 400,000 200,000 500,000
Layla Corp. is preparing its statement of cash flows for the year ended Dec. 31, 2021 and has provided the following information: Profit before income tax Depreciation on property, plant and equipment Provision for impairment losses Unrealized foreign exchange gains Fair value adjustment gain on FA at FVTPL Fair value adjustment loss on FA at FVTOCI Fair value adjustment loss on investment property Share of profit of associate Gain on sale of FA at AC Loss on sale of equipment Gain on debt extinguishment Gain on distribution of non-cash assets to owners Interest expense Interest payable, beginning of the year Interest payable, end of the year Interest income P880,000 250,000 150,000 60,000 130,000 65,000 190,000 220,000 85,000 70,000 125,000 40,000 150,000 100,000 50,000 80,000 30,000 20,000 Interest receivable, beginning of the year Interest receivable, end of the year Income taxes paid Accounts receivable, beginning of the year Accounts receivable, end of the year Inventory, beginning of the year Inventory, end of the year Accounts payable, beginning of the year Accounts payable, end of the year • The change in FA at FVTPL represents the fair value adjustment. Required: Using the indirect method, prepare the operating activities section of the entity's statement of cash flows for the year ended Dec. 31, 2021 260,000 500,000 850,000 500,000 400,000 200,000 500,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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