Clip Company had the following activities during the current year: Acquired shares in Paper Corporation for P1,200,000 Acquired a P2,000,000, 3-years certificate of deposit from a bank. During the year, Clip received P100,000 of interest. Collected dividends of P75,000 on share investments. Sold an equipment with a book value of P500,000. The company incurred a loss of P50,000. What amount should be reported as net cash used in investing activities?
Clip Company had the following activities during the current year: Acquired shares in Paper Corporation for P1,200,000 Acquired a P2,000,000, 3-years certificate of deposit from a bank. During the year, Clip received P100,000 of interest. Collected dividends of P75,000 on share investments. Sold an equipment with a book value of P500,000. The company incurred a loss of P50,000. What amount should be reported as net cash used in investing activities?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Clip Company had the following activities during the current year:
Acquired shares in Paper Corporation for P1,200,000
Acquired a P2,000,000, 3-years certificate of deposit from a bank.
During the year, Clip received P100,000 of interest.
Collected dividends of P75,000 on share investments.
Sold an equipment with a book value of P500,000.
The company incurred a loss of P50,000.
What amount should be reported as net cash used in investing activities?
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