Solution-Prepare the statement of cash flows for f company

Prepare the statement of cash flows for f company

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Reference no: EM133188089

Question - The changes in account balances for 2021, taken from the accounting records of F Company, are presented below:

	Net change for 2021
	DEBIT	CREDIT
Cash and cash equivalents	185,200
Accounts Receivable		110,000
Inventory	200,000
Buildings and equipment	1,880,000
Accumulated depreciation		290,000
Accounts payable	90,000
Income tax payable		25,200
Interest payable		60,000
Bonds payable, 8% due 5/1/2026		1,000,000
Ordinary share capital, no par		550,000
Retained earnings		320,000

Other information: Profit for the year was P579,950. Dividends were declared and paid. Equipment was purchased for P1,880,000. No buildings and equipment were sold during the year. 10,000 ordinary shares were sold for P55 per share. The 8% bonds were issued at par on April 1, 2021. The beginning cash balance was P42,000. Income tax rate is 30%.

Required - Prepare the Statement of Cash Flows for F Company for 2021.

Reference no: EM133188089

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Prepare the statement of cash flows for f company

Reference no: EM133188089

Reference no: EM133188089

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