Angel Corporation's accounting records and financial statements for 2021 is as follows: Cash paid to acquire machinery = P32 million; Retired share capital = P51 million; Proceeds from sale of land = P95 million; Gain from the sale of land = P50 million; Investment revenue received = P72 million; Cash paid to acquire office equipment = P85 million. In its statement of cash flows, the company should report net cash flows from investing activities of: a. P22 million outflows b. P50 million outflows c. P100 million inflows d. P28 million inflows
Angel Corporation's accounting records and financial statements for 2021 is as follows: Cash paid to acquire machinery = P32 million; Retired share capital = P51 million; Proceeds from sale of land = P95 million; Gain from the sale of land = P50 million; Investment revenue received = P72 million; Cash paid to acquire office equipment = P85 million. In its statement of cash flows, the company should report net cash flows from investing activities of: a. P22 million outflows b. P50 million outflows c. P100 million inflows d. P28 million inflows
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds...
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Angel Corporation's accounting records and financial statements for 2021 is as follows: Cash paid to acquire machinery = P32 million; Retired share capital = P51 million; Proceeds from sale of land = P95 million; Gain from the sale of land = P50 million; Investment revenue received = P72 million; Cash paid to acquire office equipment = P85 million. In its statement of cash flows, the company should report net cash flows from investing activities of:
a. P22 million outflows
b. P50 million outflows
c. P100 million inflows
d. P28 million inflows
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