The comparative statements of financial position of Hutt Electrical as at 30 June 2019 and 2020 and

Question:

The comparative statements of financial position of Hutt Electrical as at 30 June 2019 and 2020 and the income statement for the year ended 30 June 2020 are shown below.

Additional information 1. Other expenses include $52 500 depreciation expense.

2. All sales and purchases of inventory are on credit.

Required

(a) Prepare a statement of cash flows from operating activities only for Hutt Electrical for the year ended 30 June 2020 using 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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