13. JYD Company reported net income of P3,000,000 for the current year. Changes occurred in certain accounts as follows: Equipment P250,000 increase Accumulated depreciation 400,000 increase Note payable 300.000 increase During the year, the entity sold equipment costing P250,000 with accumulated depreciation of P120,000 for a gain of P50,000 In December of the current year, the entity purchased equipment costing P500,000 with P200.000 cash and a 12% note payable of P300.000 In the statement of cash flows, what amount should be reported as net cash used in investing activities? a. 3.400.000 b. 3.470.000 C 3.520.000 d 3.570.000 14. St Peter Company provided the following data. 2020 2019 Cash 350,000 150,000 Accounts receivable, net 840,000 580,000 Merchandise Inventory 660,000 420,000 Prepaid Expenses 50,000 100,000 Long term investment 80,000 Property, Plant and Equipment 1,130,000 600,000 Accumulated depreciation 110,000 50,000 Accounts payable 530,000 440,000 Accrued expenses 140,000 130,000 Dividends payable 70,000 Note payable-long term 500,000 Share Capital 1.200,000 900,000 Retained earnings 560,000 330,000 Net credit sales 6,400,000 4,000,000 Cost of goods sold 5,000,000 3,200,000 Expenses 1,000,000 520,000 Net income 400,000 280,000 All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded net and always paid to take all of the discounts allowed. The allowance for doubtful accounts at the end of 2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020. The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital The net cash provided (used) by operating activities is: a. 400.000 b. 100.000 C 200.000 d. 110.000 15. St Peter Company provided the following data: 2020 2019 Cash 350,000 150,000 Accounts receivable, net 840,000 580,000 Merchandise Inventory 660,000 420,000 Prepaid Expenses 50,000 100,000 Long term investment 80,000 Property, Plant and Equipment 1.130,000 600,000 Accumulated depreciation 110,000 50,000 Accounts payable 530,000 440,000 Accrued expenses 140,000 130,000 Dividends payable 70,000 Note payable-long term 500,000 Share Capital 1,200.000 900,000 Retained earnings 560,000 330,000 Net credit sales 6,400,000 4,000,000 Cost of goods sold 5,000,000 3,200.000 Expenses 1,000,000 520,000 Net income 400,000 280,000 All accounts receivable and accounts payable relate to trade merchandise Accounts payable are recorded net and always paid to take all of the discounts allowed. The allowance for doubtful accounts at the end of 2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020 The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital The net cash provided (used) by financing activities is a 140,000 b. 300,000 C500,000 d. 700.000 16. St Peter Company provided the following data: 2020 2019 Cash 350,000 150,000 Accounts receivable, net 840,000 580,000 Merchandise Inventory 660,000 420,000 Prepaid Expenses 50,000 100,000 Long term investment 80,000 Property, Plant and Equipment 1,130,000 600,000 Accumulated depreciation 110,000 50,000 Accounts payable 530,000 440,000 Accrued expenses 140,000 130,000 Dividends payable 70,000 Note payable-long term 500,000 Share Capital 1,200,000 900,000 Retained earnings 560.000 330,000 Net credit sales 6,400,000 4,000,000 Cost of goods sold 5,000,000 3,200,000 Expenses 1,000,000 520,000 Net income 400,000 280,000 All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded net and always paid to take all of the discounts allowed The allowance for doubtful accounts at the end of 2020 was the same as at the end of 2019. No receivables were charged against the allowance during 2020 The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital. The net cash provided (used) by investing activities is 80 000 b. 530 000 C 610.000 d: 660 000 a