Question
19. Benito Company reported the following information for the financial year ended 30/06/2020: Profit from ordinary activities before income tax expense $986,000 Cash received from
19. Benito Company reported the following information for the financial year ended 30/06/2020:
Profit from ordinary activities before income tax expense | $986,000 |
Cash received from customers / Accounts receivables | 80,000 |
Paid to suppliers / Accounts payable | 80,000 |
Cash received from the sale of Land | 28,000 |
Obtained a loan from Good Bank | 60,000 |
Purchase a motor vehicle for cash | 80,000 |
Share issues | 120,000 |
Salary & wages paid | 16,000 |
Dividend paid | 14,000 |
Annual leave paid | 20,000 |
Interest received from an investment | 4,000 |
Purchased building for cash | 40,000 |
Cash & Cash equivalents as of 01/07/2019 | 40,000 |
Loss of sale on land | 60,000 |
Accrued wages | 50,000 |
Trade stock as of 30/06/2020 | 15,000 |
Cost of goods sold | 450,000 |
Provision for warranties | 90,000 |
Required:
l. What is the net cash inflow (outflow) from operating activities?
ll. What is the net cash inflow (outflow) from investing activities?
lll. What is the net cash inflow (outflow) from financing activities?
IV. Determine the cash & cash equivalents as of 30/06/2020.
V. Determine the total cash flow from operations as of the end of the year. Opening Balance of Cash at the start of the year is $100,000.
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