Question
Corporation has the following information for the current year: Profit for the period P 5,700,000 Amortization of Patent 150,000 Impairment of PPE 500,000 Depreciation 700,000
Corporation has the following information for the current year:
Profit for the period | P 5,700,000 |
Amortization of Patent | 150,000 |
Impairment of PPE | 500,000 |
Depreciation | 700,000 |
Income Tax Expense | 1,900,000 |
Loss on Sale Assets | 200,000 |
Unrealized Gain on FVOCI | 300,000 |
Unrealized Gain on FVPL | 400,000 |
Asset revaluation reserve | 1,200,000 |
Cumulative Translation Adjustment - Gain | 350,000 |
Realized Gain on Foreign Currency Transaction | 400,000 |
Unrealized Gain on Foreign Currency Translation | 450,000 |
Increase on Trade Receivables | 1,200,000 |
Decrease on Inventories | 2,500,000 |
Increase in other current assets | 750,000 |
Increase in Trade Payables | 2,200,000 |
Increase in Notes Payable - Trade | 800,000 |
Income Taxes Paid | 250,000 |
Cash Dividends Declared | 3,000,000 |
Cash Dividends Paid | 2,000,000 |
Purchase of Treasury Stock | 750,000 |
Purchase of Short Term Investments | 480,000 |
Purchase of Long Term Investments | 520,000 |
Acquisition of PPE | 3,200,000 |
Purchase of Intangibles | 1,800,000 |
Acquisition of Investment Property | 4,000,000 |
Proceeds from Sale of Non-current Assets | 8,000,000 |
Issuance of Notes Payable - Bank | 3,500,000 |
Payment of Borrowings | 4,500,000 |
Issuance of Bonds Payable | 2,400,000 |
Issuance of Ordinary Shares | 3,750,000 |
Required:
Using IAS No. 7 Prepare a Statement of Cash Flows using the Indirect Method
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