question archive Justine Bieber Company provided the following information for the current year: 1)Purchased a building for ? 1,200,000
Justine Bieber Company provided the following information for the current year: 1)Purchased a building for ? 1,200,000
Subject:AccountingPrice: Bought3
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.
- Borrowed ? 550,000 under a long-term loan agreement.
- 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
