Problem #33 Statement of Cash Flows Bobadilla Corp. has the following balances in its shareholders' equity accounts at the beginning and end of the year: Beginning Balance Ending Balance Convertible Preference Shares, P100 par, each share convertible to 3 ordinary shares Ordinary Shares, P1 par value Share Premium-Ordinary Retained Earnings P2,000,000 600,000 3,000,000 7,000,000 400,000 800,000, 9,940,000 8,000,000 Treasury Stock 130,000 Assume that no ordinary shares was retired during the year and profit was P1,300,000. The treasury stock was sold for P250,000./ Required: Prepare the financing activities section of the statement of cash flows.
Problem #33 Statement of Cash Flows Bobadilla Corp. has the following balances in its shareholders' equity accounts at the beginning and end of the year: Beginning Balance Ending Balance Convertible Preference Shares, P100 par, each share convertible to 3 ordinary shares Ordinary Shares, P1 par value Share Premium-Ordinary Retained Earnings P2,000,000 600,000 3,000,000 7,000,000 400,000 800,000, 9,940,000 8,000,000 Treasury Stock 130,000 Assume that no ordinary shares was retired during the year and profit was P1,300,000. The treasury stock was sold for P250,000./ Required: Prepare the financing activities section of the statement of cash flows.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Problem #33
Statement of Cash Flows
Bobadilla Corp. has the following balances in its shareholders' equity accounts at the
beginning and end of the year:
Beginning
Ending
Balance
Balance
Convertible Preference Shares, P100 par,
each share convertible to 3 ordinary shares
Ordinary Shares, P1 par value
Share Premium-Ordinary
Retained Earnings
P2,000,000
600,000
3,000,000
0.
800,000,
9,940,000
8,000,000
130,000
7,000,000
Treasury Stock
400,000
Assume that no ordinary shares was retired during the year and profit was P1,300,000.
The treasury stock was sold for P250,000./
Required: Prepare the financing activities section of the statement of cash flows.
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