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    W8 - AS5 - Statement of CashFlows

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    Jere Mae Maranan
    Capoy Corporation reported net income of P108,000 in 2020. It had cash provided by operating activities of P109,000. Cash used in investing activities was P108,000 due to the sale of equipment. Cash used in financing activities was P90,000 from dividends paid.

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    W8 - AS5 - Statement of CashFlows

    Uploaded by

    Jere Mae Maranan
    217 views1 page
    Capoy Corporation reported net income of P108,000 in 2020. It had cash provided by operating activities of P109,000. Cash used in investing activities was P108,000 due to the sale of equipment. Cash used in financing activities was P90,000 from dividends paid.

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    W8_AS5 - Statement of CashFlows

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    Capoy Corporation reported net income of P108,000 in 2020. It had cash provided by operating activities of P109,000. Cash used in investing activities was P108,000 due to the sale of equipment. Cash used in financing activities was P90,000 from dividends paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    217 views1 page

    W8 - AS5 - Statement of CashFlows

    Uploaded by

    Jere Mae Maranan
    Capoy Corporation reported net income of P108,000 in 2020. It had cash provided by operating activities of P109,000. Cash used in investing activities was P108,000 due to the sale of equipment. Cash used in financing activities was P90,000 from dividends paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    De La Salle Lipa Income from operations 171,000

    Intermediate Accounting 3 Interest expense 27,000


    Statement of Cash Flows
    Profit before taxes 144,000
    Financial statements of Capoy Corporation for 2020 and 2019 are Income taxes 36,000
    provided as follows:
    Net income P 108,000
    Statement of Financial Position

    2020 2019 The following additional data were provided:


     Dividends for the year 2020 were P72,000
    Cash P 153,000 P 72,000  Depreciation expense of P30,000 is in the selling expense category.
    Accounts receivable 135,000 81,000  During the year, equipment was sold for P90,000. This equipment
    cost P132,000 originally and had a book value of P108,000 at the
    Merchandise inventory 144,000 180,000 time of sale.
    Property, plant and equipment 108,000 246,000 Based on the above, prepare the cash flow worksheet and the statement
    P 540,000 P 579,000 of cash flows for the periods ended December 31, 2020 and 2019, using
    the excel file provided. The solve for the following:

    1. The net cash provided by operating activities is


    Accounts payable P 66,000 P 36,000 a. P 75,000 b. P 90,000 c. P109,000 d. P153,000
    Income tax payable 132,000 147,000
    2. The net cash provided (used by inventing activities is
    Bonds payable 135,000 225,000 a. P(132,000) b. P(108,000) c. P 18,000 d. P 90,000
    Share capital 81,000 81,000 3. Under the direct method, the cash received from customers is
    Retained Earnings 126,000 90,000 a. 3,096,000 b. 3,150,000 c. 3,165,000 d. 3,204,000

    P 540,000 P 579,000 4. Under the direct method, the total taxes paid is
    a. P 15,000 b. P 21,000 c. P 36,000 d. P 51,000
    Statement of Comprehensive Income 5. The net cash provided (used) by financing activities is
    a. P(162,000) b. P(90,000) c. P 18,000 d. P 72,000
    2020
    Sales P 3,150,000
    Cost of sales (2,664,000)
    Gross profit 486,000
    Selling expenses P 225,000
    Administrative expenses 90,000 (297,000)

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