Problem 17-28 (AICPA Adapted) During the current year, Teb Company had the following activities related to financial operations: Payment for the early retirement of long-term bonds payable with carrying amount of P7,400,000 Payment in the current year of cash dividend declared in prior year to preference shareholders Carrying amount of convertible preference shares converted into ordinary shares Proceeds from sale of treasury shares with carrying amount at cost, P800,000 7,500,000 600,000 1,200,000 950,000 What is the net cash used in financing activities? a. 7,150,000 b. 8,100,000 c. 5,950,000 d. 7,850,000
Problem 17-28 (AICPA Adapted) During the current year, Teb Company had the following activities related to financial operations: Payment for the early retirement of long-term bonds payable with carrying amount of P7,400,000 Payment in the current year of cash dividend declared in prior year to preference shareholders Carrying amount of convertible preference shares converted into ordinary shares Proceeds from sale of treasury shares with carrying amount at cost, P800,000 7,500,000 600,000 1,200,000 950,000 What is the net cash used in financing activities? a. 7,150,000 b. 8,100,000 c. 5,950,000 d. 7,850,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 14P
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