Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is taken from the records of Golden Harvest Corporation: Collections from: Sale of merchandise 3,700,000 Sale of share capital 4,200,000 Sale of

The following information is taken from the records of Golden Harvest Corporation:

Collections from:

Sale of merchandise 3,700,000

Sale of share capital 4,200,000

Sale of investment property 1,300,000

Issuance of bonds 2,000,000

Dividends on investments held 90,000

Payments for:

Purchase of furniture and fixtures 3,400,000

Operating expenses 1,505,000

Merchandise purchased 2,580,000

Purchase of treasury shares 100,000

Interest on notes payable 120,000

Notes payable 1,000,000

Dividends 500,000

  1. How much is the net cash flow from operating activities?
  2. How much is the net cash flow from investing activities?
  3. How much is the net cash flow from financing activities?
  4. Assume a cash balance of P500,000 at the beginning of the year. How much is the cash balance at the end of the year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

9th edition

1-119-49356-3, 1119493633, 1119493560, 978-1119493631

More Books

Students also viewed these Accounting questions