Only need solutions. answers are given 53.What is the net cash provided by operating activities? a) P100,000 b) P200,000 c) P400,000 d) P110,000-answers 54. Using the data in no. 53, what is the net cash provided by financing activities? a) P300,000 b) P140,000 c) P500,000 d) P700,000-answers 55. Using the data in no. 53, what is the net cash provided by investing activities? a) P530,000 b) P610,000-answers c) P80,000 d) P660,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Only need solutions. answers are given

53.What is the net cash provided by operating activities?

a) P100,000
b) P200,000
c) P400,000
d) P110,000-answers

54. Using the data in no. 53, what is the net cash provided by financing activities?
a) P300,000
b) P140,000
c) P500,000
d) P700,000-answers

55. Using the data in no. 53, what is the net cash provided by investing activities?
a) P530,000
b) P610,000-answers
c) P80,000
d) P660,000

Strawberry Co. provided the following data:
2020
2019
P150,000
580,000
420,000
100,000
Cash
Accounts Receivable, net
Merchandise Inventory
Prepaid Expenses
Long Term Investment
Property, Plant and Equipment
Accumulated Depreciation
Accounts Payable
Accrued Expenses
Dividends Payable
Notes Payable-Long Term debt
Share Capital
Retained Earnings
Net Credit Sales
P 350,000
840,000
660,000
50,000
80,000
1,130,000
110,000
530,000
140,000
70,000
600,000
50,000
440,000
130,000
500,000
1,200,000
560,000
6,400,000
5,000,000
1,000,000
400,000
900,000
330,000
4,000,000
3,200,000
520,000
280,000
Cost of Goods Sold
Expenses
Net Income
All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded
net and always paid to take all the discounts allowed. The allowance for doubtful accounts at the end of
2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020.
The proceeds from the note payable were used to finance a new store building. Share capital was sold to
provide additional working capital.
Transcribed Image Text:Strawberry Co. provided the following data: 2020 2019 P150,000 580,000 420,000 100,000 Cash Accounts Receivable, net Merchandise Inventory Prepaid Expenses Long Term Investment Property, Plant and Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Dividends Payable Notes Payable-Long Term debt Share Capital Retained Earnings Net Credit Sales P 350,000 840,000 660,000 50,000 80,000 1,130,000 110,000 530,000 140,000 70,000 600,000 50,000 440,000 130,000 500,000 1,200,000 560,000 6,400,000 5,000,000 1,000,000 400,000 900,000 330,000 4,000,000 3,200,000 520,000 280,000 Cost of Goods Sold Expenses Net Income All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded net and always paid to take all the discounts allowed. The allowance for doubtful accounts at the end of 2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020. The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital.
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