Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CASH FLOW STATEMENT (INDIRECT METHOD - INVESTING ACTIVITIES SECTION) Following Information has been extracted from the books of Seven Star Limited: During the Financial Period

image text in transcribed
CASH FLOW STATEMENT (INDIRECT METHOD - INVESTING ACTIVITIES SECTION) Following Information has been extracted from the books of Seven Star Limited: During the Financial Period Ended Dec 2018, the Company carried on following investing activities: 1) The Equipment costing 25,000 and having written down value of 22,500 sold out at a gain of 5,500. 2) The Company purchased shares of Starlet Limited valued at 10,000 3) The Company disposed of its stock invetments for 12,500 4) The Company purchased a new car for 10,000 5) The depreciation on a new car purchased is 1,000 6) The depreciation on the remaining assets is 2,000 Required: Prepare only the Investing Activities Section of the Cash Flow under the Indirect Method for the financial year ended Dec 2018

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

Step: 3

blur-text-image

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

World Class Internal Audit Tales From My Journey

Authors: Norman Marks

1st Edition

1500791962, 978-1500791964

More Books

Students also viewed these Accounting questions

Question

What is the purpose of a causal loop diagram?

Answered: 1 week ago

Question

Evaluating Group Performance?

Answered: 1 week ago