Light Inc. had the following activities during the current year: Acquired 4,000 shares of Dark Inc. for P5,200,000 Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000. Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc. Collected dividends of P240,000 on share dividends. What amount should be included as cash inflows from investing activities? A. 5,200,000 B. 6,600,000 C. 10,000,000 D. 7,000,000
Light Inc. had the following activities during the current year: Acquired 4,000 shares of Dark Inc. for P5,200,000 Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000. Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc. Collected dividends of P240,000 on share dividends. What amount should be included as cash inflows from investing activities? A. 5,200,000 B. 6,600,000 C. 10,000,000 D. 7,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Light Inc. had the following activities during the current year:
- Acquired 4,000 shares of Dark Inc. for P5,200,000
- Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000.
- Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc.
- Collected dividends of P240,000 on share dividends.
What amount should be included as
A. 5,200,000
B. 6,600,000
C. 10,000,000
D. 7,000,000
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