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FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:

a. What is the net cash provided by operating activities?
b. What is the net cash used in investing activities?
c. What is the net cash provided by financing activities?
Account Titles
2021
2020
Cash
Accounts Receivable
Investments
Plant Assets
P2,750,000 P2,000,000
7,000,000 4,600,000
1,000,000 1,750,000
9,000,000 6,500,000
(3,000,000) (2,250,000)
4,750,000 3,750,000
7,500,000 5,000,000
4,500,000 3,850,000
Accumulated Depreciation
Accounts Payable
Share Capital
Retained Earnings
• An investment was sold for P1,250,000 during the year.
There was no disposal of plant assets during the year.
• The net profit for the year was P3,000,000.
• A dividend of F2,350,000 was paid on December 31, 2021.
Transcribed Image Text:Account Titles 2021 2020 Cash Accounts Receivable Investments Plant Assets P2,750,000 P2,000,000 7,000,000 4,600,000 1,000,000 1,750,000 9,000,000 6,500,000 (3,000,000) (2,250,000) 4,750,000 3,750,000 7,500,000 5,000,000 4,500,000 3,850,000 Accumulated Depreciation Accounts Payable Share Capital Retained Earnings • An investment was sold for P1,250,000 during the year. There was no disposal of plant assets during the year. • The net profit for the year was P3,000,000. • A dividend of F2,350,000 was paid on December 31, 2021.
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