Statement of cash flows
Particulars |
$ |
$ |
|
||
Cash receipts from customers |
978,000 | |
Cash payment to suppliers |
- 638,000 |
|
Cash payment for operating expenses |
- 179,000 | |
Cash payment for income tax |
- 24,000 | |
Net cash provided by Operating Activities |
137,000 | |
|
||
Sale of equipment |
17,000 | |
Purchase of equipment |
- 180,000 | |
Net cash used in Investing Activities |
- 163,000 | |
|
||
Issue of notes payable |
90,000 | |
Dividend paid |
- 32,000 | |
Net cash provided by Financing Activities |
58,000 | |
Net increase in Cash and Cash Equivalents(I +II +III) |
32,000 | |
Add: Cash in the beginning of the period |
159,000 | |
Cash at the end of the period |
191,000 |
Non cash investing and financing activity
Ordinary shares of $100,000 issued to acquire land.
Cash receipts from customers = Revenue from sales + Decrease in accounts receivables
= 975,000 + 3,000
= $978,000
Cash payment to suppliers = Cost of goods sold - Decrease in inventory + Decrease in accounts payable
= 660,000 - 30,000 + 8,000
= $638,000
Cash payment for operating expenses = Operating expenses - Decrease in prepaid expenses + Decrease in accrued expenses payable
= 176,000 - 2,000 + 5,000
= $179,000
Cash payment for income tax = Income tax expense - Increase in income tax payable
= 36,000 - 12,000
= $24,000
Kindly comment if you need further assistance. Thanks
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Only Answer Question 1 Please
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ONLY ANSWER QUESTION 2 PLEASE.
Please include any T Accounts used to figure out
values.
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Prepare the statement of cash
flows for Emporium Ltd for the year ended 30 June 2020, using the
direct method. (Show amounts that decrease cash flow using either a
negative sign, e.g. -15,000 or parentheses, e.g. (15,000).)
If it's convenient, can you leave the problem-solving process?
I'm not very familiar with how to calculate this problem. Thank
you.
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solve step by step for my learning and
understanding
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(15,000).)
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I already did the Cash Flow Statement, please help with the
DEBIT / CREDIT part
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