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After one week at the accounting practice your manager Frank Chung gives you an extract (see below) of a cashbook for Diamond Industries Limited

After one week at the accounting practice your manager Frank Chung gives you an extract (see below) of a cashbook for Diamond Industries Limited for the year ended 30 June 2018. Cash Book Opening balance Accounts receivable Commission received Plant & equipment Share capital Office furniture Bills receivable (customers) Interest income 65,000 Accounts payable 622,000 Bills payable (suppliers) 3,000 Motor vehicles 9,000 Salaries & wages 150,000 Taxation payable 12,000 Provision for annual leave 10,000 Petty Cash 1,500 Other operating expenses Deposits at call Dividend payable Closing balance $872,500 242,000 15,000 80,000 220,000 28,000 13,000 500 126,000 50,000 25,500 72,500 $872,500 Additional Information: The petty cash float was $1,500 on 1 July 2017. There were no deposits at call on 1 July 2017. Required: In accordance with the accounting standard AASB 107, prepare a cashflow statement including a note for the reconciliation of cash for Diamond Industries Limited for the period ended 30 June 2018.

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