GRAY Company uses the direct method to prepare its statement of cash flows. GRAY had the following cash flows during 2021: Cash receipts from sale of an old van - P 160,000; Cash receipts from issuance of ordinary shares - P 2,000,000; Cash receipts from the issuance of 10%, 10-yr bonds - P 1,500,000; Cash receipts from customers - P 1,000,000; Cash receipts from repayment of loan made to another company - P 1,200,000; cash receipts from dividends - P 150,000; Cash receipts from interest - P 150,000; Cash payments for operating expenses - P 650,000; Cash payments for taxes - P300,000; Cash payments for equity securities bought classified as FVOCI - P 900,000; Cash payment for equipment purchased - P 300,000; Cash payments for land required - P 1,200,000. What is the net cash provided (used) from investing activities?

GRAY Company uses the direct method to prepare its statement of cash flows. GRAY had the following cash flows during 2021: Cash receipts from sale of an old van - P 160,000; Cash receipts from issuance of ordinary shares - P 2,000,000; Cash receipts from the issuance of 10%, 10-yr bonds - P 1,500,000; Cash receipts from customers - P 1,000,000; Cash receipts from repayment of loan made to another company - P 1,200,000; cash receipts from dividends - P 150,000; Cash receipts from interest - P 150,000; Cash payments for operating expenses - P 650,000; Cash payments for taxes - P300,000; Cash payments for equity securities bought classified as FVOCI - P 900,000; Cash payment for equipment purchased - P 300,000; Cash payments for land required - P 1,200,000. What is the net cash provided (used) from investing activities?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1PA: Provide journal entries to record each of the following transactions. For each, also identify *the...

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