The following comparative statements of financial position and income statement are for the business of Bargains Galore

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The following comparative statements of financial position and income statement are for the business of Bargains Galore Pty Ltd.

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Additional information 1. All sales and purchases of inventory are on credit.
2. Income tax is paid in one instalment during the year.
3. A dividend had been paid to shareholders.
4. Additional plant had been acquired for a cash outlay.
Required

(a) Prepare the statement of cash flows for the company for the year ended 30 June 2020. Use the direct method.

(b) Repeat requirement

(a) using the indirect method.

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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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