Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities? Account Titles20212020CashAccounts ReceivableInvestmentsPlant AssetsP2,750,000 P2,000,0007,000,000 4,600,0001,000,000 1,750,0009,000,000 6,500,000(3,000,000) (2,250,000)4,750,000 3,750,0007,500,000 5,000,0004,500,000 3,850,000Accumulated DepreciationAccounts PayableShare CapitalRetained Earnings• An investment was sold for P1,250,000 during the year.There was no disposal of plant assets during the year.• The net profit for the year was P3,000,000.• A dividend of F2,350,000 was paid on December 31, 2021.

Profit on Sale of Investment= Sales Proceeds - Cost of Investment = 1250,000-(1750,000-1000,000)…

Answered: le 7,000,000 000 000 4,

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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Question

Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:

a. What is the net cash provided by operating activities?
b. What is the net cash used in investing activities?
c. What is the net cash provided by financing activities?

Account Titles
2021
2020
Cash
Accounts Receivable
Investments
Plant Assets
P2,750,000 P2,000,000
7,000,000 4,600,000
1,000,000 1,750,000
9,000,000 6,500,000
(3,000,000) (2,250,000)
4,750,000 3,750,000
7,500,000 5,000,000
4,500,000 3,850,000
Accumulated Depreciation
Accounts Payable
Share Capital
Retained Earnings
• An investment was sold for P1,250,000 during the year.
There was no disposal of plant assets during the year.
• The net profit for the year was P3,000,000.
• A dividend of F2,350,000 was paid on December 31, 2021.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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