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1. The following information has been extracted from the financial statements and accounting records of Charity R Us Inc. for the year ended 30
1. The following information has been extracted from the financial statements and accounting records of Charity R Us Inc. for the year ended 30 June 20XY. Cash Sales Credit Purchases Wages Operating Expenses paid Purchase of Delivery Van Depreciation - Delivery Van Decrease in Accrued Operating Expenses Decrease in Prepaid Operating Expenses Loan from Finance Ltd Drawings by J Nicholls Increase in Accounts Payable during the year Increase in Inventory during the year Net Profit for the year Cash at Bank - 01 July 20XX (Opening balance) Cash at Bank - 30 June 20XY (Closing balance) $120,000 $ 36,000 $ 25,000 $ 45,000 $ 10,000 $1,000 $1,500 $ 500 $ 8,000 $ 15,000 $ 2,000 $ 4,000 $ 18,000 $ 4,000 $ 3,000 a. Prepare a Cash Flow Statement for the year ended 30 June 20XY. (Note: Insert or delete the lines in the table if needed.) Cash Flow Statement of Charity R Us Inc. for the year ended 30 June 20XY Cash flows from Operating Activities: Net cash flows from operating activities Cash flows from Investing Activities: Net cash flows used in investing activities Cash flows from Financing Activities: Net cash flow used in financing activities Net Increase/(Decrease) in cash and cash equivalents Cash and cash equivalent - 01 July 20XX Cash and cash equivalent - 30 June 20XY b. Reconcile Net Profit to Net Cash from Operating Activities. Reconciliation of Net Cash from Operating Activities to Net Profit Net profit for the year Add: Non-cash items Changes in Current Assets and Current Liabilities: Net cash flow from operating activities
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