Homework Answers
Cash Flow Statement
Cash flow from Operating Activities
Net Income from operating activities 58,984
Adjustments
Depreciation on fixed Assets 5,400
(Increase) Decrease in Current Assets
(Increase) in Accounts Receivables (26,700)
(Increase) in inventory (12,000)
(Increase) in prepaid expenses ( 950)
Increase (Decrease) in Current Liabilities
Increase in bank overdraft 6,402
Increase in Accounts payable 698
(Decrease) in expenses payable (10)
Increase in Tax Payable 12,590
Net Cash provided by Operating Activities 44,414
Cash flow from Investing Activities
Purchase of Plant and Equipment (19,500)
Sale of land 100,000
Net Cash provided (Used) by Investing Activities 81,500
Cash flow from Capital Account
Capital at the beginning 229,769
Add Net Income 58,984
Total 288,753
Less Capital at the close of the year 167,778
Net cash provided(withdrawan) ( 120,975)
Net increase (Decrease) in Cash 4,939
Opening balance of Cash (Cash in hand and bank balance) 4,959
Closing Cash Balance 9,898
As per Question Cash at Bank is only "0", this needs to be reconciled.
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