Angel Corporation's accounting records and financial statements for 2021 is as follows (P in millions): Cash paid to acquire machinery = P32; Retired share capital = P51; Proceeds from sale of land = P95; Gain from the sale of land = P50; Investment revenue received = P72; Cash paid to acquire office equipment = P85. In its statement of cash flows, the company should report net cash flows from investing activities of: A. P22 million outflows B. P50 million outflows C. P100 million inflows D. P28 million inflows
Angel Corporation's accounting records and financial statements for 2021 is as follows (P in millions): Cash paid to acquire machinery = P32; Retired share capital = P51; Proceeds from sale of land = P95; Gain from the sale of land = P50; Investment revenue received = P72; Cash paid to acquire office equipment = P85. In its statement of cash flows, the company should report net cash flows from investing activities of: A. P22 million outflows B. P50 million outflows C. P100 million inflows D. P28 million inflows
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 6DQ
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Angel Corporation's accounting records and financial statements for 2021
is as follows (P in millions): Cash paid to acquire machinery = P32; Retired
share capital = P51; Proceeds from sale of land = P95; Gain from the sale
of land = P50; Investment revenue received = P72; Cash paid to acquire
office equipment = P85. In its statement of cash flows, the company
should report net cash flows from investing activities of:
A. P22 million outflows
B. P50 million outflows
C. P100 million inflows
D. P28 million inflows
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