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Zoe Company reported net income of P3,400,000 for the current year. The net income included depreciation o P840,000 and a gain on sale of equipment of P170,000. The equipment had an original cost of P4,000,000 and accumulated depreciation of P2,400,000. All of the following accounts increased during the current year. 450,000 680,000 Patent Prepaid rent Financial asset at fair value through other comprehensive income (FVOCI) Bonds payable 100,000 500,000 What amount should be reported as net cash flow from investing activities? a. 1,720,000 provided 6. 1,220,000 provided 540,000 provided d. c. 380,000 used

Zoe Company reported net income of P3,400,000 for the current year. The net income included depreciation o P840,000 and a gain on sale of equipment of P170,000. The equipment had an original cost of P4,000,000 and accumulated depreciation of P2,400,000. All of the following accounts increased during the current year. 450,000 680,000 Patent Prepaid rent Financial asset at fair value through other comprehensive income (FVOCI) Bonds payable 100,000 500,000 What amount should be reported as net cash flow from investing activities? a. 1,720,000 provided 6. 1,220,000 provided 540,000 provided d. c. 380,000 used

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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Faye Company provided the following data for the current year. Problem 17-26 (AICPA Adapted) Proble Gain on eale ofequipment Proceeds from sale of equipment During activit Furchase of Ace bonde, face amount, P2,000,000 Amortization of bond diecount Dividend declared Dividend paid Payme bo Paym in Carry Proceeds from sale of treasury shares with carrying amount of P650,000 750,000 1. What is net cash used in financing activities Proce a. 4,000,000 b. 3,350,000 c. 3,750,000 d. 3,250,000 Wh a. b. c. d. 2. What is net cash used in investing activities? a. 1,600,000 O 1,700,000 c. 1,500,000 d. 1,800,000 P K y Problem 17-27 (IFRS) Zoe Company reported net income of P3,400,000 for . current year. The net income included depreciation o P840,000 and a gain on sale of equipment of P170,000. The equipment had an original cost of P4,000,000 and accumulated depreciation of P2,400,000. All of the following accounts increased during the current year. Patent Prepaid rent Financial asset at fair value through other comprehensive income (FVOCI) Bonds payable 450,000 680,000 100,000 500,000 What amount should be reported as net cash flow from investing activities? a. 1,720,000 provided b. 1,220,000 provided 540,000 provided d. c. 380,000 used 532
Transcribed Image Text:Faye Company provided the following data for the current year. Problem 17-26 (AICPA Adapted) Proble Gain on eale ofequipment Proceeds from sale of equipment During activit Furchase of Ace bonde, face amount, P2,000,000 Amortization of bond diecount Dividend declared Dividend paid Payme bo Paym in Carry Proceeds from sale of treasury shares with carrying amount of P650,000 750,000 1. What is net cash used in financing activities Proce a. 4,000,000 b. 3,350,000 c. 3,750,000 d. 3,250,000 Wh a. b. c. d. 2. What is net cash used in investing activities? a. 1,600,000 O 1,700,000 c. 1,500,000 d. 1,800,000 P K y Problem 17-27 (IFRS) Zoe Company reported net income of P3,400,000 for . current year. The net income included depreciation o P840,000 and a gain on sale of equipment of P170,000. The equipment had an original cost of P4,000,000 and accumulated depreciation of P2,400,000. All of the following accounts increased during the current year. Patent Prepaid rent Financial asset at fair value through other comprehensive income (FVOCI) Bonds payable 450,000 680,000 100,000 500,000 What amount should be reported as net cash flow from investing activities? a. 1,720,000 provided b. 1,220,000 provided 540,000 provided d. c. 380,000 used 532
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