SME provided the following information about the preparation of a statement of cash flows for...
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Accounting
- SME provided the following information about the preparation of a statement of cash flows for the current year:
Profit for the year 380,000
Noncash finance costs, finance cost paid P25,000 1,000
Noncash tax expense, income tax paid P190,000 79,000
Depreciation of property, plant, and equipment 270,000
Impairment loss 30,000
Amortization of intangibles 2,000
Gain on sale of equipment 60,000
Increase in trade and other receivables 10,000
Decrease in inventories 9,000
Increase in trade payables, including unrealized foreign exchange loss of P1,000
charged to other expenses
11,000
Increase in current and long-term benefit payable 3,000
Proceeds from the sale of equipment 100,000
Purchase of equipment 485,000
Payment of finance lease liability 19,000
Repayment of borrowings 100,000
Dividends paid 150,000
Procedure:
1. Open MS Excel and start a new worksheet. Then, compute for the following:
A. Net cash provided by operating activities.
B. Net cash used in investing activities.
C. Net cash used in financing activities.
Profit for the year 380,000
Noncash finance costs, finance cost paid P25,000 1,000
Noncash tax expense, income tax paid P190,000 79,000
Depreciation of property, plant, and equipment 270,000
Impairment loss 30,000
Amortization of intangibles 2,000
Gain on sale of equipment 60,000
Increase in trade and other receivables 10,000
Decrease in inventories 9,000
Increase in trade payables, including unrealized foreign exchange loss of P1,000
charged to other expenses
11,000
Increase in current and long-term benefit payable 3,000
Proceeds from the sale of equipment 100,000
Purchase of equipment 485,000
Payment of finance lease liability 19,000
Repayment of borrowings 100,000
Dividends paid 150,000
Procedure:
1. Open MS Excel and start a new worksheet. Then, compute for the following:
A. Net cash provided by operating activities.
B. Net cash used in investing activities.
C. Net cash used in financing activities.
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