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1. Heavy Corp.'s transactions for the year ended December 31, 2013 included the following: Acquired 50% of Grant Corp.'s common stock for P160,000 cash which
1. Heavy Corp.'s transactions for the year ended December 31, 2013 included the following:
- Acquired 50% of Grant Corp.'s common stock for P160,000 cash which was borrowed from a bank.
- Issued 5,000 shares of its preferred stock for land having a fair value of P320,000.
- Issued 500 of its 11% debenture bonds, due 2018, for P392,000
- Purchased a patent for P220,000
- Paid P120,000 toward a bank
- Sold available-for-sale securities for P796,000.
- Had a net increase in returnable customer deposits (long-term) of P88,000.
Required:
a. Heavys net cash provided by investing activities for 2013
b. Heavys net cash provided by financing activities for 2013
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