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The analysis of SQUARE Company's non-current assets at December 31, 2021 are shown below: Property, plant and equipment, net Patents, net ТОTAL December 31, 2021 4,500,000 900,000 5,400,000 January 1, 2021 3,000,000 720,000 3,720,000 P P P The breakdown of the accounts were as follows: (1) Property, plant and equipment January 1, 2021 4,000,000 1,000,000 3,000,000 December 31, 2021 Cost Accumulated depreciation Net carrying value 7,000,000 2,500,000 4,500,000 P P There were two transactions affecting the PPE account for the year: (1) A sale of a PPE item costing P3,000,000 (with a carrying value of P1,700,000) yielding a loss of P200,000, and (2) acquisition of a new PPE item for an undisclosed amount. (2) Patents December 31, 2021 1,200,000 300,000 900,000 January 1, 2021 900,000 180,000 720,000 Cost Accumulated amortization Net carrying value P There were no sale of patents during the year. Compute for SQUARE's net cash from/(used in) investing activities for the year ended December 31, 2021.

The analysis of SQUARE Company's non-current assets at December 31, 2021 are shown below: Property, plant and equipment, net Patents, net ТОTAL December 31, 2021 4,500,000 900,000 5,400,000 January 1, 2021 3,000,000 720,000 3,720,000 P P P The breakdown of the accounts were as follows: (1) Property, plant and equipment January 1, 2021 4,000,000 1,000,000 3,000,000 December 31, 2021 Cost Accumulated depreciation Net carrying value 7,000,000 2,500,000 4,500,000 P P There were two transactions affecting the PPE account for the year: (1) A sale of a PPE item costing P3,000,000 (with a carrying value of P1,700,000) yielding a loss of P200,000, and (2) acquisition of a new PPE item for an undisclosed amount. (2) Patents December 31, 2021 1,200,000 300,000 900,000 January 1, 2021 900,000 180,000 720,000 Cost Accumulated amortization Net carrying value P There were no sale of patents during the year. Compute for SQUARE's net cash from/(used in) investing activities for the year ended December 31, 2021.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The analysis of SQUARE Company's non-current assets at December 31, 2021 are shown below: December 31, 2021 4,500,000 900,000 5,400,000 January 1, 2021 3,000,000 720,000 3,720,000 Property, plant and equipment, net Patents, net P ТОTAL P P The breakdown of the accounts were as follows: (1) Property, plant and equipment December 31, 2021 7,000,000 2,500,000 4,500,000 January 1, 2021 4,000,000 1,000,000 3,000,000 Cost Accumulated depreciation Net carrying value P P There were two transactions affecting the PPE account for the year: (1) A sale of a PPE item costing P3,000,000 (with a carrying value of P1,700,000) yielding a loss of P200,000, and (2) acquisition of a new PPE item for an undisclosed amount. (2) Patents December 31, 2021 1,200,000 300,000 900,000 January 1, 2021 900,000 180,000 720,000 Cost Accumulated amortization Net carrying value There were no sale of patents during the year. Compute for SQUARE's net cash from/(used in) investing activities for the year ended December 31, 2021.
Transcribed Image Text:The analysis of SQUARE Company's non-current assets at December 31, 2021 are shown below: December 31, 2021 4,500,000 900,000 5,400,000 January 1, 2021 3,000,000 720,000 3,720,000 Property, plant and equipment, net Patents, net P ТОTAL P P The breakdown of the accounts were as follows: (1) Property, plant and equipment December 31, 2021 7,000,000 2,500,000 4,500,000 January 1, 2021 4,000,000 1,000,000 3,000,000 Cost Accumulated depreciation Net carrying value P P There were two transactions affecting the PPE account for the year: (1) A sale of a PPE item costing P3,000,000 (with a carrying value of P1,700,000) yielding a loss of P200,000, and (2) acquisition of a new PPE item for an undisclosed amount. (2) Patents December 31, 2021 1,200,000 300,000 900,000 January 1, 2021 900,000 180,000 720,000 Cost Accumulated amortization Net carrying value There were no sale of patents during the year. Compute for SQUARE's net cash from/(used in) investing activities for the year ended December 31, 2021.
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