INVESTING ACTIVITIESHow much is the net cash used in investing activities? Statement of Cash Flows, Investing Activities. The following were taken from the recordsof CEBU Company on December 31, 2021 regarding its non-current assets:(1) EquipmentEQUIPMENTParticularsDebitCredit| January 1, 2021 – Beginning balanceMay 31, 2021 - AcquisitionOctober 31, 2021 - Disposal440,000260,000P100,000ACCUMULATED DEPRECIATION - EQUIPMENTParticularsDebitCreditJanuary 1, 2021 - Beginning balanceOctober 31, 2021 - DisposalDecember 31, 2021 - Depreciation expense140,000P60,000120,000In addition, on the income statement of CEBU, a gain on sale of equipment amounting toP5,000 was presented.(2) Investments in AssociatesINVESTMENT IN ASSOCIATESParticularsDebitCreditJanuary 1, 2021 - Beginning balanceMarch 31, 2021- AcquisitionJuly 31, 2021 - DisposalDecember 31, 2021 - Share in net incomeDecember 31, 2021 – Dividends receivedP1,200,000960,000P500,000290,000120,000In addition, on the income statement of CEBU, a loss on sale of investment amounting toP45,000 was presented.

The net cash used in investing activities is the second section of cash flow statements which state…

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Accounting

How much is the net cash used in investing activities?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 41E: Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets...

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