Justine Bieber Company provided the following information for the current year: 1)Purchased a building for ? 1,200,000

Subject:AccountingPrice:2.84 Bought4

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Justine Bieber Company provided the following information for the current year:

1)Purchased a building for ? 1,200,000. Paid ? 400,000 and signed a mortgage with the seller for the remaining ? 800,000.

2)Executed a debt-equity swap and replaced a ? 600,000 loan by giving the lender ordinary shares worth ? 600,000 on the date the swap was executed.

3)Purchased land for ? 1,000,000. Paid ? 350,000 and issued ordinary shares worth ? 650,000.

4)Borrowed ? 550,000 under a long-term loan agreement.

5)Used the cash from the loan proceeds for purchase of additional inventory ? 150,000, payment of cash dividend ? 300,000 and increase the cash balance ? 100,000.

 

What amount should be reported as net cash used in investing activities in the statement of cash flows?

Group of answer choices

 

 

c. P 400,000

 

b. P 2,200,000

 

a. P 1,200,000

 

d. P 750,000