Prepare the Financing activities section of the statement of cash flows.
Bobadilla Corp.has the following balances in its shareholders' equity accounts at the
beginning and end of the year:
Beginning
Ending
Balance
Balance
Convertible Preference Shares, P100 par,
each share convertible to 3 ordinary shares
P2,000,000
P
0
Ordinary Shares, P1 par value
600,000
800,000
Share Premium-Ordinary
3,000,000
9,940,000
Retained Earnings
7,000,000
8,000,000
Treasury Stock
400,000
130,000
Assume that no ordinary shares was retired during the year and profit was P1,300,000.
The treasury stock was sold for P250,000.
Required:Prepare the financing activities section of the statement of cash flows.
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Prepare the Financing activities section of the statement of cash flows.
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