1. VEXANA Company reported net income of P4,500,000 during 2021. In addition, the Company also reported the following financial transactions for the year 2021: Amounts lent to other entities P8,000,000 Fair value of land contributed by a shareholder 4,000,000 Proceeds from issuance of bonds payable 12,000,000 Payments to acquire FVTOCI investments 3,000,000 Proceeds from the sale of amortized cost 7,500,000 investments Payments to acquire FVTPL investments 2,000,000 Payments in acquiring Company's own shares 900,000 Proceeds from issuing its ordinary shares 10,000,000 Acquisition of a two-month time deposit 500,000 Declaration of cash dividends 1,200,000 Payments of cash dividends 800,000 Based solely on this information, determine the net amount of cash inflow or outflow from investing activities A. P4,200,000 inflow B. P3,750,000 inflow C. P3,500,000 outflow D. P4,300,000 outflow

1. VEXANA Company reported net income of P4,500,000 during 2021. In addition, the Company also reported the following financial transactions for the year 2021: Amounts lent to other entities P8,000,000 Fair value of land contributed by a shareholder 4,000,000 Proceeds from issuance of bonds payable 12,000,000 Payments to acquire FVTOCI investments 3,000,000 Proceeds from the sale of amortized cost 7,500,000 investments Payments to acquire FVTPL investments 2,000,000 Payments in acquiring Company's own shares 900,000 Proceeds from issuing its ordinary shares 10,000,000 Acquisition of a two-month time deposit 500,000 Declaration of cash dividends 1,200,000 Payments of cash dividends 800,000 Based solely on this information, determine the net amount of cash inflow or outflow from investing activities A. P4,200,000 inflow B. P3,750,000 inflow C. P3,500,000 outflow D. P4,300,000 outflow

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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During 2021, Anthony Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. Pertinent data are as follows: The net holding gain or loss included in Anthonys income statement for the year should be: a. 0 b. 3,000 gain c. 9,000 loss d. 12,000 loss
Fisafolia Corporation has gross income from operations of $210,000 and operating expenses of $160,000 for 2019. The corporation also has $30,000 in dividends from publicly traded domestic corporations in which the ownership percentage was 45 percent. Calculate the corporation's dividends received deduction for 2019. $_____________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $135,000. Calculate the corporation's dividends received deduction for 2019. $___________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $158,000. Calculate the corporation's dividends received deduction for 2019. $_____________
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Napier Co. provided the following information on selected transactions during 2021: Purchase of land by issuing bonds, P250,000; Proceeds from issuing bonds, P500,000; Purchases of inventory, P950,000; Purchases of treasury shares, P150,000; Loans made to affiliated corporations, P350,000; Dividends paid to preference shareholders, P100,000; Proceeds from issuing preference share, P400,000; Proceeds from sale of equipment, P50,000. The net cash provided (used) by investing activities during 2021 is A P(300,000). B P(1,250,000). c) P50,000. (D) P(550,000).
Ben John Corporation provided the following information on selected transactions during 2021: Purchase of land by issuing bonds, P400,000; proceeds from issuing bonds, P800,000; purchases of inventories, P1,520,000; purchases of treasury shares, P240,000; loans made to affiliated corporations, P560,000; dividends paid to preference shareholders, P160,000; proceeds from issuing preference share, P640,000; and proceeds from sale of equipment, P80,000. How much would be the net cash provided by financing activities? Blank 1 Blank 1 Add your answer
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