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uinze Seizé Corp. reported tr mounts in its statement of fina osition at each year-end: 74 a

uinze Seizé Corp. reported tr mounts in its statement of fina osition at each year-end: 74 a

Intermediate Accounting: Reporting And Analysis
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
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 7MC
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Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end: Account Titles 2021 2020 Cash Accounts Receivable Investments Plant Assets P2,750,000 $2,000,000 7,000,000 4,600,000 1,000,000 1,750,000 9,000,000 6,500,000 (3,000,000) (2,250,000) 4,750,000 3,750,000 7,500,000 5,000,000 4,500,000 3,850,000 Accumulated Depreciation Accounts Payable Share Capital Retained Earnings • An investment was sold for P1,250,000 during the year. There was no disposal of plant assets during the year. • The net profit for the year was $3,000,000. • A dividend of P2,350,000 was paid on December 31, 2021. Prepare the statement of cash flows.
Transcribed Image Text:Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end: Account Titles 2021 2020 Cash Accounts Receivable Investments Plant Assets P2,750,000 $2,000,000 7,000,000 4,600,000 1,000,000 1,750,000 9,000,000 6,500,000 (3,000,000) (2,250,000) 4,750,000 3,750,000 7,500,000 5,000,000 4,500,000 3,850,000 Accumulated Depreciation Accounts Payable Share Capital Retained Earnings • An investment was sold for P1,250,000 during the year. There was no disposal of plant assets during the year. • The net profit for the year was $3,000,000. • A dividend of P2,350,000 was paid on December 31, 2021. Prepare the statement of cash flows.
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