Question
Additional information:1. Net income for the year was P790,0002. Cash dividend of P500,00 was declared3. Equipment costing P600,000 with carrying amount of P350,000 was sold
Additional information:1. Net income for the year was P790,0002. Cash dividend of P500,00 was declared3. Equipment costing P600,000 with carrying amount of P350,000 was sold for P350,0004. Equipment costing P110,000 was acquired through the issuance of long-term debt5. Long term investment was sold for P135,000. No other transactions affected long-term investment6. 10,000 ordinary shares were issued for P22 per share REQUIRED:1. Net cash provided (used) by operating activities2. Net cash provided (used) by investing activities3. Net cash provided (used) by financing activities
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