Homework Help is Here – Start Your Trial Now!
Business
Accounting
Light Inc. had the following activities during the current year: Acquired 4,000 shares of Dark Inc. for P5,200,000. Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000. Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc. Collected dividends of P240,000 on share dividends.   How much should be reported as cash inflows from operating activities? A. 175,000 B. 415,000 C. 0 D. 250,000

Light Inc. had the following activities during the current year: Acquired 4,000 shares of Dark Inc. for P5,200,000. Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000. Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc. Collected dividends of P240,000 on share dividends.   How much should be reported as cash inflows from operating activities? A. 175,000 B. 415,000 C. 0 D. 250,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Light Inc. had the following activities during the current year:

  • Acquired 4,000 shares of Dark Inc. for P5,200,000.
  • Sold an investment in Lonely Inc. for P7,000,000 when the carrying value was P6,600,000.
  • Acquired a P10,000,000, 4-year certificate of deposit from a bank. During the year, interest of 175,000 was paid to Light Inc.
  • Collected dividends of P240,000 on share dividends.

 

How much should be reported as cash inflows from operating activities?

A. 175,000
B. 415,000
C. 0
D. 250,000

Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Consolidations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS