ABC Company reported net income of P4,360,000 for the current year. The net income included depreciation of P390,000 and loss on sale of equipment of P200,000. The equipment had an original cost of P6,000,000 and accumulated depreciation of P2,500,000. All of the following accounts increased during the current year: Patent 350,000 280,000 Prepaid rent Financial asset-FVOCI 450,000 Bonds payable 600,000

ABC Company reported net income of P4,360,000 for the current year. The net income included depreciation of P390,000 and loss on sale of equipment of P200,000. The equipment had an original cost of P6,000,000 and accumulated depreciation of P2,500,000. All of the following accounts increased during the current year: Patent 350,000 280,000 Prepaid rent Financial asset-FVOCI 450,000 Bonds payable 600,000

Name: What amount should be reported as net cash flow from investing activit
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Description: What amount should be reported as net cash flow from investing activities? ABC Company reported net income of P4,360,000 for the current year. The net income included depreciation ofP390,000 and loss on sale of equipment of P200,000. The equipment ha

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

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 6RE: Oz Corporation has the following assets at year-end: Patents (net), 26,000; Land, 50,000; Buildings,...

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