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 customers
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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