the following activities related to its financial operations: · Payment for the early retirement of long-term bonds payable (carrying amount – P50,000,000)- P55,000,000 · Distribution in 2022 of cash dividend declared in 2021- P30,000,000 · Carrying amount of convertible preference shares converted into ordinary shares- P20,000,000 · Proceeds from sale of treasury shares (cost – P20,000,000)- P25,000,000 In the statement of cash flows, net cash used in financing activities should be

the following activities related to its financial operations: · Payment for the early retirement of long-term bonds payable (carrying amount – P50,000,000)- P55,000,000 · Distribution in 2022 of cash dividend declared in 2021- P30,000,000 · Carrying amount of convertible preference shares converted into ordinary shares- P20,000,000 · Proceeds from sale of treasury shares (cost – P20,000,000)- P25,000,000 In the statement of cash flows, net cash used in financing activities should be

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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