Under the indirect method, how much should be reported as cash flows from operating activities?  a. P 780,000 b. P 550,000 c. P 600,000 d. P 750,000

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 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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Under the indirect method, how much should be reported as cash flows from operating activities? 

a. P 780,000
b. P 550,000
c. P 600,000
d. P 750,000

Sun company provided the following data for the preparation of the statement
of cash flows for the current year
> Increase in accounts receivable
> Decrease in income tax payable
> Depreciation
> Net income
> Gain on sale of equipment
> Loss on sale of building
P
300,000
170,000
1,000,000
250,000
440,000
210,000
Transcribed Image Text:Sun company provided the following data for the preparation of the statement of cash flows for the current year > Increase in accounts receivable > Decrease in income tax payable > Depreciation > Net income > Gain on sale of equipment > Loss on sale of building P 300,000 170,000 1,000,000 250,000 440,000 210,000
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