Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

After going through some of Chris' old bank statements, sales receipts, tax returns and other records, the following information has been assembled. OKS Pte Ltd

image text in transcribed

After going through some of Chris' old bank statements, sales receipts, tax returns and other records, the following information has been assembled. OKS Pte Ltd currently pays out 50% of net income as dividends to Chris and has a 20% tax rate. 2018 2019 Cash 28,167 24,164 Accounts payable 7,020 10,300 Cost of goods sold 214,000 253,900 Salaries 109,000 144,000 Depreciation 35,981 40,280 Interest expense 6,256 6,430 General, selling and administrative 52,143 66,450 Rent expense 60,000 76,000 Net fixed assets 250,000 430,029 Sales 857,930 985,000 Accounts receivable 28,870 65,000 Long-term debt 125,000 128,700 Inventory 43,000 47,000 New equity 50,000 Table 1: Assembled financial information from OKS Pte Ltd Compute the missing items in the following statement of cash flows. Cash flow Statement for year ended 31 December 2019 Net income Depreciation Changes in AR Changes in inventory Changes in AP Cash from Operating Activities, CFO Capital Expenditure Cash from Investing Activities, CFI Changes in LT Debt Dividends paid New equity Cash from Financing Activities, CFF Net change in cash Beginning cash Ending cash Table 2: Cash Flow Statement (12 marks) Hence, compute the cash flow to assets, cash flow to creditors and cash flow to stockholders for the year 2019. (18 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Research On Professional Responsibility And Ethics In Accounting Volume 21

Authors: Cynthia Jeffrey

1st Edition

1787549739, 9781787549739

More Books

Students also viewed these Accounting questions

Question

=+c) Do you find evidence of a seasonal effect? Explain.

Answered: 1 week ago

Question

What do you mean by dual mode operation?

Answered: 1 week ago

Question

Explain the difference between `==` and `===` in JavaScript.

Answered: 1 week ago

Question

1. What would you do if you were Jennifer, and why?

Answered: 1 week ago