
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:SME Company
SME provided the following information about the preparation of a statement of cash flows for the current year:
Profit for the year
Noncash finance costs, finance cost paid P25,000
Noncash tax expense, income tax paid P190,000
Depreciation of property, plant, and equipment
Impairment loss
Amortization of intangibles
Gain on sale of equipment
Increase in trade and other receivables
Decrease in inventories
Increase in trade payables, including unrealized foreign exchange loss of P1,000
charged to other expenses
|Increase in current and long-term benefit payable
Proceeds from the sale of equipment
Purchase of equipment
Payment of finance lease liability
Repayment of borrowings
Dividends paid
380,000
1,000
79,000
270,000
30,000
2,000
60,000
10,000
9,000
11,000
3,000
100,000
485,000
19,000
100,000
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
Expert Solution
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