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? (Note: If your answer is net cash inflow, indicate a positive amount. If your answer is a net cash outflow, indicate a negative amount)
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? (Note: If your answer is net cash inflow, indicate a positive amount. If your answer is a net cash outflow, indicate a negative amount)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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,i
• 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?
(Note: If your answer is net cash inflow, indicate a positive amount. If your answer is a net cash outflow, indicate a negative amount)
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