BABS3071 Commercial Biotechnology Homework Questions Topic: Cashflow Statements Question 1 Prepare an appropriately classified statement of cash flows for the year ended June 2021 tot Gymes Limited from the following cash account information: Description Bank loan obtained 70.000 Cash expenses 8.920 Cash sales 31.610 Cash, beginning of year 68.920 Cash, end of year 93,620 Collections on accounts receivable 797.640 Dividends paid 20.000 Employee wages and salariespaid 223.610 Income tax paid 14.920 Land purchased for cash 81.000 Payment to suppliers 513.600 Proceeds from sale of old truck 7.000 Ordinary shares sued 110.000 Repayments on borrowing 80.500 Truck purchased 49.000 Questions adapted trom "Tinancial Accounting An Integrated Approach 6 Edition by Ken Trotman, Elizabeth Carson and Michael Gibbins Question 2 The financial year for Neverless Limited ends on 30 June 2021 During the month of Rune 2021, the company incurred the transactions below. Indicate the effect (increase/decreaseo effect) of each transaction on the company's cash flow Questions adapted from "Financial Accounting An Integrated Approach Edition by Ken Trotman, Elizabeth Carson and Michael Gibbins Question 2 The financial year for Neverless Limited ends on 20 June 2021. During the month of June 2021, the company incurred the transactions below. Indicate the effect (increase/decreaseo effect) of each transaction on the company's cash flow from operating activities, investing activities and financing activities for the year ended 30 June 2021- Operating Investing Financing 1. Sent invoices for $20,000 to customers for work carried out in June: $5.000 of this was collected in June. 2. Received $30,000 deposit on a job that will be carried out in July 2021 (ie. In the next financial year). 3. Paid accounts payable of $40,000 which was outstanding on 31 May 2021. 4. Sold old equipment for $20,000. The equipment originally cost $300,000 with accumulated depreciation at the time of sale of $250,000 5. Declared dividends of $80,000 to be paid next financial year