Tinkiwinki Inc., corporation, has the following pertinent information happened during year 2022 Cash receipts from customers Cash receipts from rent income Cash paid to suppliers Payment of short-term loan Cash paid to other operating expenses Cash payment for long-term investments Cash receipts from disposal of old machine Proceeds from long-term borrowings Recognition of depreciation Recognition of bad debts Cash payment for trading securities Purchased equipment on account P 6,830,000 220,000 1,750,000 400,000 560,000 380,000 600,000 2,000,000 90,000 48,000 100,000 260,000 Purchased of land 1,000,000 Proceeds from issuance of share capital 1,500,000
Tinkiwinki Inc., corporation, has the following pertinent information happened during year 2022 Cash receipts from customers Cash receipts from rent income Cash paid to suppliers Payment of short-term loan Cash paid to other operating expenses Cash payment for long-term investments Cash receipts from disposal of old machine Proceeds from long-term borrowings Recognition of depreciation Recognition of bad debts Cash payment for trading securities Purchased equipment on account P 6,830,000 220,000 1,750,000 400,000 560,000 380,000 600,000 2,000,000 90,000 48,000 100,000 260,000 Purchased of land 1,000,000 Proceeds from issuance of share capital 1,500,000
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 11EA: Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables....
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![Tinkiwinki Inc., corporation, has the following pertinent information happened during year 2022
Cash receipts from customers
Cash receipts from rent income
Cash paid to suppliers
Payment of short-term loan
Cash paid to other operating expenses
Cash payment for long-term investments
Cash receipts from disposal of old machine
Proceeds from long-term borrowings
Recognition of depreciation
Recognition of bad debts
Cash payment for trading securities
Purchased equipment on account
P 6,830,000
220,000
1,750,000
400,000
560,000
380,000
600,000
2,000,000
90,000
48,000
100,000
260,000
1,000,000
Purchased of land
Proceeds from issuance of share capital
Dividends paid
1,500,000
80,000
Dividends received
40,000
Interest paid
Interest received
100,000
50,000
330,000
Income tax paid
Required: Prepare Statement of Cash Flows using direct method](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4ccb637b-a9cd-4850-92e8-881c2c1fd550%2F0e0841f4-b80a-4189-b9fd-b851fb1b9929%2F5i76pyi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tinkiwinki Inc., corporation, has the following pertinent information happened during year 2022
Cash receipts from customers
Cash receipts from rent income
Cash paid to suppliers
Payment of short-term loan
Cash paid to other operating expenses
Cash payment for long-term investments
Cash receipts from disposal of old machine
Proceeds from long-term borrowings
Recognition of depreciation
Recognition of bad debts
Cash payment for trading securities
Purchased equipment on account
P 6,830,000
220,000
1,750,000
400,000
560,000
380,000
600,000
2,000,000
90,000
48,000
100,000
260,000
1,000,000
Purchased of land
Proceeds from issuance of share capital
Dividends paid
1,500,000
80,000
Dividends received
40,000
Interest paid
Interest received
100,000
50,000
330,000
Income tax paid
Required: Prepare Statement of Cash Flows using direct method
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