Question
The following information was taken from the accounting records of ATLANTA Company for the year ended December 31, 2021: Net income during the year, P2,250,000
The following information was taken from the accounting records of ATLANTA Company for the year ended December 31, 2021: Net income during the year, P2,250,000 Proceeds from the issuance of preference shares, P4,000,000 Dividends paid on preference shares, P400,000 Bonds payable converted to ordinary shares, P2,000,000 Payment for purchase of machinery, P500,000 Proceeds from sale of plant building, P1,200,000 Retirement of bonds payable at face value, P2,500,000 2% bonus issue on ordinary shares, P300,000 Purchase of ordinary treasury shares, P120,000 Payment for the purchase of debt securities at amortized cost, P450,000 Gain on sale of plant building, P200,000 Depreciation expense, P188,000 Doubtful accounts expense, P87,000 Increase in accounts receivable, P325,000 Decrease in merchandise inventory, P129,000 Increase in investments in equity securities at FVTPL, P440,000 Increase in accounts payable, P90,000 Decrease in accrued expenses, P225,000 Increase in income tax payable, P117,000 How much is the net cash from/(used in) operating activities? How much is the net cash from/(used in) investing activities? How much is the net cash from/(used in) financing activities? Assume that the cash and cash equivalents at January 1, 2021 amounted to P550,000. How much is the cash and cash equivalents at December 31, 2021?
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