Operating, financing and investing activities The following information relates to LL Ltd.

LL LTD COMPARATIVE BALANCE SHEETS 2022 2021

$ $

Current assets Cash 95 000 105 000 Accounts receivable 330 000 150 000 Inventory 270 000 260 000 Prepaid insurance 10 000 5 000 Noncurrent assets Land 540 000 480 000 Equipment 587 000 585 000 Accumulated depreciation – equipment (332 000) (245 000)

Total assets 1 500 000 1 340 000 Current liabilities Accounts payable 190 000 360 000 Wages payable 64 000 52 000 Noncurrent liabilities Borrowings 746 000 488 000 Total liabilities 1 000 000 900 000 Net assets 500 000 440 000 Shareholders’ equity Share capital 250 000 240 000 Asset revaluation reserve 90 000 50 000 Retained profits 160 000 150 000 Total shareholders’ equity 500 000 440 000 LL LTD INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2022 $ $
Sales 700 000 Gain on sale of equipment 30 000 730 000 Less:
Cost of goods sold 87 000 Depreciation 300 000 Wages expense 100 000 Rent expense 9 000 Insurance expenses 30 000 526 000 Profit before income tax 204 000 Less: Income tax expense 64 000 Profit/(loss) after tax 140 000 Additional information:
Equipment with a book value of $70 000 was sold during the year.
1 What is the journal entry for the sale of equipment?
2 Calculate the following:
a cash received from customers b cash paid to suppliers c wages paid d rent paid e insurance paid.
3 Calculate the following:
a cash paid for land purchase b cash paid for equipment.
4 Calculate cash flow from financing activities for the year ended 30 June 2022.