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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

FINANCIAL ACCOUNTING
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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Problem 17-28 (AICPA Adapted) ear: 00 00 00 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 17-29 (AICPA Adapted) Kollar Company provided the following data for the current year: Purchase of real estate for cash Cash was borrowed from bank to purchase real estate Sale of investment securities for cash Dividend paid Issuance of ordinary shares for cash Purchase of patent for cash Payment of bank loan Increase in customers' deposit Issuance of bonds payable for cash 5,500,000 5,500,000 5,000,000 6,000,000 2,500,000 1,250,000 1,500,000 200,000 8,000,000 1. What is the net cash provided by financing activities? a. 5,000,000 b. 3,500,000 c. 4,500,000 d. 5,500,000 2. What is the net cash used in investing activities? a. 6,750,000 b. 3,750,000 c. 1,750,000 d. 500,000 533
Transcribed Image Text:Problem 17-28 (AICPA Adapted) ear: 00 00 00 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 17-29 (AICPA Adapted) Kollar Company provided the following data for the current year: Purchase of real estate for cash Cash was borrowed from bank to purchase real estate Sale of investment securities for cash Dividend paid Issuance of ordinary shares for cash Purchase of patent for cash Payment of bank loan Increase in customers' deposit Issuance of bonds payable for cash 5,500,000 5,500,000 5,000,000 6,000,000 2,500,000 1,250,000 1,500,000 200,000 8,000,000 1. What is the net cash provided by financing activities? a. 5,000,000 b. 3,500,000 c. 4,500,000 d. 5,500,000 2. What is the net cash used in investing activities? a. 6,750,000 b. 3,750,000 c. 1,750,000 d. 500,000 533
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