Kim Khan has been in business as a sole trader for the past 5 years. The comparative

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Kim Khan has been in business as a sole trader for the past 5 years. The comparative statements of financial position for the years 2019 and 2020 and a summarized income statement for the year ended 30 June 2020 are shown below.

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Additional information 1. Kim had contributed capital during the year for $6000 cash and had made cash withdrawals during the year. The bank overdraft was considered to be part of the entity’s everyday cash management activities.
Required

(a) Prepare a statement of cash flows using the direct method for Kim Khan’s business for the year ended 30 June 2020.

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Accounting

ISBN: 9780730363224

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie

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