Hi tutor, its all about STATEMENT OF CASH FLOWS, help me to solve for it and please provide solution. In order to understand it and make it as a reviewer for my upcoming exam. Thank you

of Problem 17-28 (AICPA Adapted) 8 Weaver Company provided the following data: Trade accounts receivable, net 2018 Inventory 2019 Accounts payable 840,000 1,500,000 780,000 950,000 1,400,000 . 980,000 Total sales were P12,000,000 for 2019 and P11,000,000 for 2018. Cash sales were 20% of total sales each year. Cost of goods sold was P8, 400,000 for 2019. Variable general and administrative expenses for 2019 were P1,200,000. They have varied in proportion to sales, 50% have been paid in the year incurred and 50% the following year. Unpaid expenses are not included in accounts payable. Fixed general and administrative expenses, including P350,000 depreciation and P50,000 bad debt expense, totaled P1,000,000 each year. Eighty percent of fixed expenses involving cash were paid in the year incurred and 20% the following year. Each year there was a P50,000 bad debt estimate and a P50,000 writeoff. Unpaid expenses are not included in accounts payable. 1. What is the cash collected from customers during 2019? a. 12,010,000 b. 12,060,000 C. 11,960,000 d. 11,890,000 2. What is the cash disbursed for purchases during 2019? a. 8,500,000 b. 8,270,000 C. 8,300,000 d. 8,200,000 3. What is the cash disbursed for expenses during 2019? a. 1,800,000 b. 1,200,000 C. 1, 750,000 d. 1,450,000 435Problem 17-23 (AICPA Adapted) Karr Company reported net income of P3,000,000 for the accounts: current year. The following changes occurred in several Equipment Accumulated depreciation Note payable 250,000 increase 400,000 increase * 300,000 increase During the year, the entity sold equipment costing P250,000, P50,000. with accumulated depreciation of P120,000 at a gain of * In December, the entity purchased equipment costing P500,000 with P200,000 cash and a 12% note payable of P300, Q00. 1. What is the depreciation expense for the year? a. 520,000 b. 400,000 C. 280,000 d. 120,000 2. What amount should be reported as net cash used in investing activities? a. 350,000 b. 120,000 C. 220,000 d. 20,000 3. What amount should be reported as net cash provided by operating activities? a. 3,400,000 b. 3,470,000 C. 3,520,000 d. 3,570,000Problem 17-22 (IAA) Riverside Company provided the following data for the current year: * Purchased a building for P1, 200,000. Paid P400,000 and signed a mortgage with the seller for the remaining P800,000. * Executed a debt-equity swap and replaced a P600,000 loan by giving the lender ordinary shares worth P600,000 on the date the swap was executed. * Purchased land for P1,000,000. Paid P350,000 and issued ordinary shares worth P650,000. Borrowed P550,000 under a long-term loan agreement. Used the cash from the loan proceeds to purchase additional inventory P150,000, to pay cash dividend P300,000 and to increase the cash balance P100,000. 1. What amount should be reported as net cash used in investing activities? a. 1,200,000 b. 2,200,000 C. 400,000 d. 750,000 2. What amount should be reported as net cash provided by financing activities? a. 350,000 b. 850,000 c. 250,000 d. 550,000Problem 17-33 Multiple choice (AICPA Adapted) 1. All can be classified as cash and cash equivalents, except 6. In a an ad a. Redeemable preference shares due in 60 days a. Is b. Treasury bills due for repayment in 90 days b. R c. Equity investments C . d. Bank overdraft d. 2. When an entity purchased a three-month Treasury bill, 7. Usin how would the purchase be treated in preparing the incr statement of cash flows? a. Not reported b . b. An outflow for financing activities C . c. An outflow for lending activities d. d. An outflow for investing activities 8. Wh 3. In a statement of cash flows, if used equipment is sold at sta a gain, the amount shown as a cash inflow from investing activities equals the carrying amount of the equipment a. b . a. Plus the gain C . b. Plus the gain and less the amount of tax d. c. Plus both the gain and the amount of tax d. With no addition or subtraction 9. Di pr 4. In a statement of cash flows, if used equipment is sold at a loss, the amount shown as a cash inflow from investing a. activities equals the carrying amount of the equipment b . C . a. Less the loss and plus the amount of tax d. b. Less both the loss and the amount of tax c. Less the loss 10. In d. With no addition or subtraction be 5. In a statement of cash flows using indirect method, a a. decrease in prepaid expenses is a. Reported as an outflow and inflow of cash b. Reported as an outflow of cash c. Deducted from net income d. Added to net incomeProblem 17-29 (PHILCPA Adapted) Haze Company provided the following information for the current year: P January 1 ch December 31 Cash 620,000 Accounts receivable 670,000 Merchandise inventory 860,000 900,000 Accounts payable 530,000 780,000 480,000 The sales and cost of goods sold were P7,980,000 and P5,830,000 respectively. All sales and purchases were on credit. Various expenses of P1, 070,000 were paid in cash. There were no other pertinent transactions. E 1. What is the amount of collections from customers? a. 7,980,000 b. 8,600,000 C. 7,750,000 d. 8,210,000 2. What is the payment of accounts payable? a. 5,750,000 b. 5,880,000 C. 5,800,000 d. 5,700,000 3. What is the cash balance on December 31? a. 1,090,000 b. 1,500,000 C. 2,570,000 d. 3,050,000Problem 17-16 (LAA) Blacktown Company reported the following account balances: Accounts payable "Inventory December 31 January 1 Accounts receivable 500,000 650,000 Prepaid expenses 300,000 800,000 250,000 * All purchases of inventory were on account. 400,000 900,000 600,000 * Depreciation expense of P900,000 was recognized. Equipment was sold during the year and a gain of P300,000 com was recognized. The entity provided the following cash flow information: Cash collected from customers Cash paid for inventory 9,500,000 Cash paid for other expenses (4,100,000) Cash flow from operations Reveri (1,400,000) 4,000,000 What is the net income for the current year? a. 3,300,000 END b. 3,400,000 C. 3,000,000 d. 3,900,000 Problem 17-17 (AICPA Adapted) Rumulus Company reported the following information in the financial statements for the current year: Capital expenditures 1,000,000 Finance lease payments 125,000 325,000 Income taxes paid 200,000 Dividends paid 220,000 Net interest payments What total amount should be reported as supplemental disclosures in the statement of cash flows prepared using the indirect method? a. 1, 125,000 b. 1,870,000 C. 545,000 d. 745,000 427Problem 17-31 (AICPA Adapted) Beal Company reported the following changes in the statement of financial position accounts during the current 1. year: Increase (Decrease) Assets Cash and cash equivalents 120,000 Short-term investments 300,000 2. Accounts receivable, net Inventory 80,000 Long-term investments 100,000 Property, plant and equipment 700,000 Accumulated depreciation 1,100,000 Liabilities and Shareholders' Equity Accounts payable and accrued liabilities ( 5,000) Dividend payable 160,000 Short-term bank debt 325,000 Long-term debt 110,000 Ordinary share capital, P10 par 100,000 Share premium 120,000 Retained earnings 290,000 1,100,000 The following additional information relates to the current year: Net income for the current year was P790,000. Cash dividend of P500,000 was declared. Equipment costing P600,000 and having a carrying amount of P350,000 was sold for P350,000. Equipment costing P110,000 was acquired through issuance of long-term debt. A long-term investment was sold for P135,000. There were no other transactions affecting long-term investments. 10,000 ordinary shares were issued for P22 a share. 4381. What amount should be reported as net cash provided by operating activities? a. 2,900,000 b. 4,250,000 C. 4,130,000 d. 3,950,000 2. What amount should be reported as net cash used in investing activities? a. 2,500,000 b. 2,620,000 c. 3,180,000 d. 2,200,000 3. What amount should be reported as net cash used in financing activities? a. 620,000 b. 250,000 C . 870,000 d. OProblem 17-14 (AICPA Adapted) Kentucky Company reported net income of P1,500,000 for the current year. P B The entity provided the following changes in several accounts during the current year: Investment in Videogold Company shares carried on the equity basis Accumulated depreciation, caused by major 55,000 increase repair to project equipment Premium on bonds payable 21,000 decrease Deferred tax liability 14,000 decrease 18,000 increase In the statement of cash flows, what is the net cash provided by operating activities? a. 1,504,000 b. 1,483,000 C. 1,449,000 d. 1,428,000 Problem 17-15 (LAA) Albay Company provided the following information: Accounts receivable, January 1, net of allowance of P 100,000 1,200,000 Accounts receivable, December 31, net of allowance of P300,000 1,600,000 Sales for the current year - all on credit 8,000,000 Uncollectible accounts written off during the year 70,000 Recovery of accounts written off 20,000 Bad debt expense for the year 250,000 Cash expenses for the year 5,250,000 Net income for the year 2,500,000 What is the net cash flow from operating activities? a. 2, 100,000 b. 2,350,000 c. 2,080,000 d. 2,150,000Problem 17-18 (IAA) year-end: Stone Company provided the following information at 2019 2018 Accounts receivable 620,000 Inventory 1,960,000 680,000 Accounts payable 380,000 1,840,000 Accrued expenses 500,000 520,000 340,000 The income statement for the current year showed: Net income 2, 120,000 Depreciation 240,000 Amortization of patent 80,000 Gain on sale of land 200,000 What amount should be reported as net cash provided by operating activities? a. 2,200,000 b. 2,400,000 C . 2,440,000 d. 2,600,000 Problem 17-19 (IAA) Brown Company reported the following information for the current year: Sales 2,800,000 Cost of goods sold 1,000,000 Distribution costs 400,000 Administrative expenses 350,000 Depreciation 250,000 Interest expense 80,000 Income tax expense 280,000 All sales were made for cash and all expenses other than depreciation and bond premium amortization of P20,000 were unchanged. paid in cash. All current assets and current liabilities remained What is the net cash provided by operating activities for the current year? a. 440,000 b. 690,000 C. 670,000 d. 710,000e nt Problem 17-12 (AICPA Adapted) Moon Company reported net income of P5,000,000 for the current year. Depreciation expense was P1,900,000. The following working capital accounts changed: Accounts receivable Nontrading equity investment Inventory 1, 100,000 increase Nontrade note payable 1,600,000 increase Accounts payable 730,000 increase 1,500,000 increase 1,220,000 increase Under the indirect method, what net amount of adjustments is required to reconcile net income to net cash provided by operating activities? a. 4,950,000 b. 1,050,000 C. 1,290,000 d. 310,000 Problem 17-13 (AICPA Adapted) END Kresley Company reported net income of P750,000 for the current year. The entity provided the following account balances for the preparation of statement of cash flows for the current year: January 1 December 31 115,000 145,000 Accounts receivable Allowance for uncollectible accounts 4,000 5,000 62,000 41,000 Prepaid rent expense 97,000 112,000 Accounts payable What is the net cash provided by operating activities for the current year? . 727,000 b. 743,000 C. 755,000 d. 757,000 425Problem 17-27 (IFRS) Rosalynne Company reported the following statement of financial position at year-end: Prob 2019 Weav 2018 Cash 2,750,000 Accounts receivable 7,000,000 2,000,000 4,600,000 Trade Investments, at cost 1,000,000 1, 750,000 Inver Plant 9,000,000 Acco Accumulated depreciation (3,000,000) 6,500,000 Accounts payable 4,750,000 (2,250,000) Share capital 7,500,000 3,750,000 Retained earnings 4,500,000 5,000,000 3,850,000 An investment was sold for P1, 250,000 during the year. There was no disposal of plant during the year. ye The net income for the year was P3,000,000, after income tax F expense of P1, 200,000. to A dividend of P2,350,000 was paid on December 31, 2019. E p 1. What is the net cash provided by operating activities? a. 1,850,000 b. 2,350,000 1. W C. 2,850,000 d. 1, 100,000 2. What is the net cash used in investing activities? a. 2,500,000 2. W b. 1,250,000 C. 1,750,000 d. 500,000 3. What is the net cash provided by financing activities? 3. W a. 2,500,000 b. 2,350,000 C. 650,000 d. 150,000 434or the Problem 17-30 (AICPA Adapted) Mega Company gathered the following information about er 31 changes which took place during the current year: Cash Accounts receivable, net Inventory 150,000) Property, plant and equipment 300,000 Accumulated depreciation 1,500,000 500,000 Intangible asset, net of amortization 180,000) Accrued expenses 275,000 and Accounts payable 50,000) Note payable - short-term debt 320,000) on Bonds payable 700,000) Ordinary share capital, P10 par 250,000) Share premium 125,000 Retained earnings 200,000 600,000) were Equipment which had originally cost P200,000 and had a carrying amount of zero was thrown away. Equipment with a cost of P150,000 and accumulated depreciation of P100,000 was sold for P50,000. Some new equipment was purchased during the year. An intangible asset was acquired during the year for 25,000 ordinary shares. Each share was selling for P13 at that time. The entity retired P2,500,000 of 10% bonds at par and issued P2, 750,000 of 8% bonds at par. The income statement reported revenue of P7,000,000 and expenses of P5,000,000. 1. What is the net cash provided by operating activities? a. 1,000,000 b . 1,800,000 C. 1,050,000 d. 1, 100,000 2. What is the net cash used in investing activities? a. 850,000 b. 800,000 C. 900,000 d. 950,000 3. What is the net cash used in financing activities? a. 250,000 b. 450,000 C. 950,000 d. 125,000 437Problem 17-24 (AICPA Adapted) Reve Company provided the following data for the current year. Gain on sale of equipment Proceeds from sale of equipment Purchase of Ace bonds, face amount, P2,000,000 60,000 100,000 Amortization of bond discount 1,800,000 Dividend declared 20,000 Dividend paid 450,000 Proceeds from sale of treasury shares with 380,000 carrying amount of P650,000 750,000 1. What is net cash provided by financing activities? a. 200,000 b. 270,000 C. 300,000 d. 370,000 2. What is net cash used in investing activities? a. 1, 700,000 b. 1,760,000 C . 1,880,000 d. 1,940,000 Problem 17-25 (IFRS) Zoe Company reported net income of P3,400,000 for the current year. The net income included depreciation of 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 450,000 Prepaid rent 680,000 Financial asset at fair value through other comprehensive income (FVOCI) 100,000 Bonds payable 500,000 What amount should be reported as net cash flow from investing activities? a. 1,720,000 provided b. 1,220,000 provided C. 540,000 provided d. 380,000 used 432Problem 17-20 (IFRS) Matthew Company provided the following information for the current year: Purchase of inventory Purchase of land, with the vendor financing P1,000,000 for 2 years 1,950,000 Purchase of plant for cash Sale of plant: 3,500,000 Carrying amount 2,500,000 Cash proceeds Buyback of ordinary shares 500,000 400,000 700,000 What amount of investing net cash outflows should be reported in the statement of cash flows for the current year? a. 5,600,000 b. 4,600,000 C. 6,550,000 d. 5,300,000 Problem 17-21 (IFRS) Nellie Company provided the following information at the end of each year: 2019 2018 Borrowings 2,500,000 800,000 Share capital 3,500,000 2,000,000 Retained earnings 950,000 750,000 Borrowings of P300,000 were repaid during 2019 and new borrowings include P200,000 vendor financing arising on the acquisition of a property. The movement in retained earnings comprised profit for 2019 of P900,000, net of dividends of P700,000. The movement in share capital arose from issuance of share capital for cash during the year. What amount should be reported as financing net cash inflows for the current year? a. 2,400,000 b. 2,200,000 c. 2,500,000 d. 2,300,000 429Problem 17-10 (IAA) Seawall Company provided the following data for the year: preparation of the statement of cash flows for the current Dividends declared and paid Cash flow from investing activities 800,000 Cash flow from financing activities (2,500,000) ( 800,000) December 31 January 1 Cash Other assets 2, 100,000 1,200,000 Liabilities 21,000,000 Share capital 10,500,000 22, 700,000 2,000,000 11,700,000 Retained earnings 10,600,000 2,000,000 10,200,000 What amount should be reported as cash flow from operating activities? 4,200,000 b. 2,400,000 C. 4,500,000 d. 5,400,000 Problem 17-11 (IAA) Santana Company provided the following information for the current year: December 31 January 1 Cash 1,500,000 1,000,000 Retained earnings 7,000,000 5,400,000 Cash flow from operating activities Cash flow from investing activities (4,800,000) Cash flow from financing activities 1,800,000 Dividends declared and paid 2,000,000 Net income 3,600,000 What amount should be reported as cash flow from operating activities? a. 3,500,000 b. 2,500,000 C. 4,500,000 d. 3,600,0001. What amount should be reported as net cash provided by operating activities? a. 1,600,000 b. 1,040,000 C . 920,000 d. 705,000 2. What amount should be reported as net cash used in investing activities? a. 1,005,000 b. 1, 190,000 c. 1,275,000 d. 1,600,000 3. What amount should be reported as net cash provided by financing activities? a. 20,000 b. 45,000 C. 150,000 d. 205,000Problem 17-26 (LAA) 100 Mountain Company provided the following information: 00 2019 2018 00 Cash and cash equivalents 00 Accounts receivable 5,600,000 3,000,000 7,400,000 Inventory 00 Prepaid expenses 8,000,000 3,500,000 6,500,000 Property, plant and equipment 400,000 600,000 Accumulated depreciation 55,000,000 42,000,000 Accounts payable (20,000,000) (16,000,000) 6,000,000 Accrued expenses 9,500,000 Note payable - bank (current) 1,500,000 500,000 2,000,000 5,000,000 Note payable - bank (noncurrent) 10,000,000 Ordinary share capital 30,000,000 30,000,000 Retained earnings 2,500,000 ( 1,000,000) Cash needed to purchase new equipment was raised by borrowing from the bank with a long-term note. Equipment costing P2,000,000 and carrying amount of P1,500,000 was sold for P1, 800,000. The entity paid cash dividend of P3,000,000 in 2019. 1. What is the net cash provided by operating activities? a. 7,400,000 b. 6,900,000 C. 8,000,000 d. 7,700,000 2. What is the net cash used in investing activities? a. 15,000,000 b. 13,200,000 C. 14,800,000 d. 13,000,000 3. What is the net cash provided by financing activities? a. 7,000,000 b. 6,000,000 C. 4,000,000 d. 3,000,000 433Problem 17-32 (IAA) New World Company recorded the following transactions 1. Wha during the current year. ope * Net income was P2,900,000. which included P300,000 loss a. resulting from the condemnation of land by the city b . C . government. d. The entity received P3,300,000 for the land carried at 2. Wh P3,600,000. inv * Patent account increased by P560,000 during the year, a. b . P120,000. representing acquisition of P680,000 and amortization of C . d. * Property, plant and equipment had a net increase of P2,200,000. 3. Wh find * Accumulated depreciation: a. b . Ending balance 4,200,000 Beginning balance 3,270,000 * Cash dividends of P250,000 were declared and paid. * Treasury shares with par value of P400,000 were acquired for P620,000 cash. * Convertible bonds issued at face amount of P2,000,000 were converted into share capital during the year. The par value of the share capital issued was P1,500,000. * All current assets and current liabilities, other than cash remained unchanged during the year. Working capital increased by P200,000 during the year