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    6937 - Statement of Cash Flows

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    Aljur Salameda
    The document contains three statements of cash flows problems from a CPA review school in the Philippines. The first problem involves calculating net cash from operating, investing, and financing activities based on changes in asset and liability accounts. The second problem provides additional cash flow information to calculate net cash from operating, investing, and financing activities. The third problem provides further cash flow details to calculate net cash from operating, investing, and financing activities.

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    6937 - Statement of Cash Flows

    Uploaded by

    Aljur Salameda
    200 views2 pages
    The document contains three statements of cash flows problems from a CPA review school in the Philippines. The first problem involves calculating net cash from operating, investing, and financing activities based on changes in asset and liability accounts. The second problem provides additional cash flow information to calculate net cash from operating, investing, and financing activities. The third problem provides further cash flow details to calculate net cash from operating, investing, and financing activities.

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    The document contains three statements of cash flows problems from a CPA review school in the Philippines. The first problem involves calculating net cash from operating, investing, and financing activities based on changes in asset and liability accounts. The second problem provides additional cash flow information to calculate net cash from operating, investing, and financing activities. The third problem provides further cash flow details to calculate net cash from operating, investing, and financing activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    200 views2 pages

    6937 - Statement of Cash Flows

    Uploaded by

    Aljur Salameda
    The document contains three statements of cash flows problems from a CPA review school in the Philippines. The first problem involves calculating net cash from operating, investing, and financing activities based on changes in asset and liability accounts. The second problem provides additional cash flow information to calculate net cash from operating, investing, and financing activities. The third problem provides further cash flow details to calculate net cash from operating, investing, and financing activities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    CPA REVIEW SCHOOL FOF THE PHILIPPINES

    Manila

    FINANCIAL ACCOUNTING AND REPORTING VALIX/VALIX/ESCALA/SANTOS/DELA CRUZ

    STATEMENT OF CASH FLOWS

    1. An entity reported the following changes in the statement of financial accounts for the current year:
    Increase (Decrease)
    Cash and cash equivalents 1,100,000
    Trading securities 2,500,000
    Accounts receivable, net of allowance 1,000,000
    Inventory (1,800,000)
    Property, plant and equipment 4,000,000
    Accumulated depreciation 500,000
    Patent ( 700,000)
    Investment in associate – 20% interest 400,000
    6,000,000
    Accounts payable 300,000
    Note payable – bank (1,500,000)
    Bonds payable 3,000,000
    Deferred tax liability 200,000
    Share capital 3,000,000
    Share premium 500,000
    Treasury shares 500,000
    Retained earnings 1,000,000
    6,000,000

    • The net income for the current year was P6,000,000.


    • Cash dividend paid at year-end amounted to P5,000,000.
    • During the current year, the entity purchased trading securities for P3,000,000 cash and sold trading
    securities costing P1,000,000 for P1,400,000 cash. At year-end, the entity recognized unrealized
    gain P500,000 from change in fair value.
    • During the year, the entity sold equipment costing P1,000,000 with carrying amount of P600,000
    for P500,000 cash.
    • The entity purchased equipment for P2,000,000 cash during the year.
    • The associate reported net income of P3,000,000 for the current year and paid cash dividend of
    P1,000,000.
    • The entity issued bonds payable at face amount of P3,000,000 in exchange for land.
    • During the year, the entity issued share capital with par value of P3,000,000 for P3,500,000 cash.
    • The entity purchased treasury shares at a cost of P500,000 at year-end.
    1. What is the net cash provided by operating activities?
    a. 6,500,000
    b. 6,100,000
    c. 9,000,000
    d. 8,600,000
    2. What is the net cash used in investing activities?
    a. 1,900,000
    b. 1,500,000
    c. 3,500,000
    d. 4,000,000
    3. What is the net cash used in financing activities?
    a. 3,500,000
    b. 3,100,000
    c. 1,000,000
    d. 4,000,000

    6937
    Page 2

    2. An entity provided the following information for the current year:


    Dividend received 500,000
    Cash received from customers 9,000,000
    Cash paid to suppliers and employees 6,000,000
    Interest received 200,000
    Interest paid on long-term debt 400,000
    Proceeds from issuing share capital 4,000,000
    Proceeds from sale of long-term investments 2,000,000
    Cash paid for equity investment at FVOCI 3,500,000
    Cash paid for equity investment held for trading 1,000,000
    Income taxes paid 300,000
    Proceeds from long-term debt 2,500,000
    1. What is the net cash provided by operating activities?
    a. 3,300,000
    b. 3,000,000
    c. 2,700,000
    d. 2,000,000
    2. What is the net cash used in by investing activities?
    a. 3,500,000
    b. 2,000,000
    c. 1,500,000
    d. 2,500,000
    3. What is the net cash provided by financing activities?
    a. 4,000,000
    b. 2,500,000
    c. 6,500,000
    d. 1,500,000
    3. An entity provided the following information for the current year:
    Proceeds from reissue of treasury shares 1,000,000
    Depreciation 1,500,000
    Gain on sale of equipment 500,000
    Retirement of preference shares 4,000,000
    Purchase of equipment for cash 7,000,000
    Proceeds from sale of equipment 2,000,000
    Cash dividend declared 2,500,000
    Net income 8,000,000
    Increase (decrease) in working capital accounts:
    Accounts receivable (2,000,000)
    Inventory 3,500,000
    Trade accounts and notes payable 4,000,000
    Dividends payable 2,500,000
    Income tax payable ( 500,000)
    1. What is the net cash provided by operating activities?
    a. 10,000,000
    b. 11,000,000
    c. 11,500,000
    d. 13,500,000
    2. What is the net cash used in investing activities?
    a. 7,000,000
    b. 5,000,000
    c. 9,000,000
    d. 2,000,000
    3. What is the net cash used by financing activities?
    a. 7,500,000
    b. 5,500,000
    c. 3,000,000
    d. 6,500,000
    E N D 6937

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