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statement of financial position: Fearsome Company showed the following comparative Problem 17-5 (AICPA Adapted) Investment in Hall Company at equity 2021 2020 Cash and cash equivalents Accounts receivable, net of allowance 2,350,000 600,000 1,000,000 2,200,000 2,000,000 5,000,000 ( 1,050,000) ( 800,000) 400,000 350,000 700,000 850,000 2,000,000 1,500,000 4,000,000 Inventory Land Property, plant and equipment Accumulated depreciation Goodwill 400,000 12,500,000 9,000,000 Accounts payable Note payable- long term Bonds payable Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 600,000 500,000 1,600,000 5,250,000 2,700,000 1,850,000 550,000 2,100,000 4,000,000 1,750,000 1,300,000 ( 700,000) 12,500,000 9,000,000 Additional information for 2021 1. The net income for the current year was P3,050,000. 2. Cash dividend paid amounted to P2,500,000. 3. The entity sold equipment costing P200,000, with carrying amount of P50,000, for P70,000 cash. 4. The entity issued 10,000 shares of capital for P150 per share cash. 5. The entity sold all of its treasury shares for P900,000 cash. 6. Individuals holding bonds with face amount of P500,000 exercised their conversion privilege. Each of the 500 bonds was converted into 5 shares of capital. 1. The entity purchased equipment for P1,200,000. 8. Land with a fair value of P500,000 was purchased through the issuance of a long term note. Required: Prepare a statement of cash flows for the current year.

statement of financial position: Fearsome Company showed the following comparative Problem 17-5 (AICPA Adapted) Investment in Hall Company at equity 2021 2020 Cash and cash equivalents Accounts receivable, net of allowance 2,350,000 600,000 1,000,000 2,200,000 2,000,000 5,000,000 ( 1,050,000) ( 800,000) 400,000 350,000 700,000 850,000 2,000,000 1,500,000 4,000,000 Inventory Land Property, plant and equipment Accumulated depreciation Goodwill 400,000 12,500,000 9,000,000 Accounts payable Note payable- long term Bonds payable Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 600,000 500,000 1,600,000 5,250,000 2,700,000 1,850,000 550,000 2,100,000 4,000,000 1,750,000 1,300,000 ( 700,000) 12,500,000 9,000,000 Additional information for 2021 1. The net income for the current year was P3,050,000. 2. Cash dividend paid amounted to P2,500,000. 3. The entity sold equipment costing P200,000, with carrying amount of P50,000, for P70,000 cash. 4. The entity issued 10,000 shares of capital for P150 per share cash. 5. The entity sold all of its treasury shares for P900,000 cash. 6. Individuals holding bonds with face amount of P500,000 exercised their conversion privilege. Each of the 500 bonds was converted into 5 shares of capital. 1. The entity purchased equipment for P1,200,000. 8. Land with a fair value of P500,000 was purchased through the issuance of a long term note. Required: Prepare a statement of cash flows for the current year.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...
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Problem 17-5 (AICPA Adapted) Investment in Hall Company at equity statement of financial position: Accounts receivable, net of allowance Fearsome Company showed the following comparative 2021 2020 Cash and cash equivalents 2,350,000 600,000 1,000,000 2,200,000 2,000,000 5,000,000 1,050,000) ( 800,000) 400,000 350,000 700,000 850,000 2,000,000 1,500,000 4,000,000 Inventory Land Property, plant and equipment. Accumulated depreciation Goodwill 400,000 12,500,000 9,000,000 Accounts payable Note payable - long term Bonds payable Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 600,000 500,000 1,600,000 5,250,000 2,700,000 1,850,000 550,000 2,100,000 4,000,000 1,750,000 1,300,000 700,000) 12,500,000 9,000,000 Additional information for 2021 1. The net income for the current year was P3,050,000. 2. Cash dividend paid amounted to P2,500,000. 3. The entity sold equipment costing P200,000, with carrying amount of P50,000, for P70,000 cash. 4. The entity issued 10,000 shares of capital for P150 cash. per share 5. The entity sold all of its treasury shares for P900,000 cash. 6. Individuals holding bonds with face amount of P500,000 exercised their conversion privilege. Each of the 500 bonds was converted into 5 shares of capital. . The entity purchased equipment for P1,200,000. 8. Land with a fair value of P500,000 was purchased through the issuance of a long term note. Required: Prepare a statement of cash flows for the current year.
Transcribed Image Text:Problem 17-5 (AICPA Adapted) Investment in Hall Company at equity statement of financial position: Accounts receivable, net of allowance Fearsome Company showed the following comparative 2021 2020 Cash and cash equivalents 2,350,000 600,000 1,000,000 2,200,000 2,000,000 5,000,000 1,050,000) ( 800,000) 400,000 350,000 700,000 850,000 2,000,000 1,500,000 4,000,000 Inventory Land Property, plant and equipment. Accumulated depreciation Goodwill 400,000 12,500,000 9,000,000 Accounts payable Note payable - long term Bonds payable Share capital, P100 par Share premium Retained earnings Treasury shares, at cost 600,000 500,000 1,600,000 5,250,000 2,700,000 1,850,000 550,000 2,100,000 4,000,000 1,750,000 1,300,000 700,000) 12,500,000 9,000,000 Additional information for 2021 1. The net income for the current year was P3,050,000. 2. Cash dividend paid amounted to P2,500,000. 3. The entity sold equipment costing P200,000, with carrying amount of P50,000, for P70,000 cash. 4. The entity issued 10,000 shares of capital for P150 cash. per share 5. The entity sold all of its treasury shares for P900,000 cash. 6. Individuals holding bonds with face amount of P500,000 exercised their conversion privilege. Each of the 500 bonds was converted into 5 shares of capital. . The entity purchased equipment for P1,200,000. 8. Land with a fair value of P500,000 was purchased through the issuance of a long term note. Required: Prepare a statement of cash flows for the current year.
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