Answered step by step
Verified Expert Solution
Question
1 Approved Answer
DUBLIN LTD Income Statement for the year ended 30 June 2020 $ Sales Revenue 900,000 Less: Cost of Goods Sold expenses (350,000) Gross profit 550,000
DUBLIN LTD Income Statement for the year ended 30 June 2020 $ Sales Revenue 900,000 Less: Cost of Goods Sold expenses (350,000) Gross profit 550,000 Less: Other Expenses (including depreciation of (280,000) $90,000) NET (OPERATING) PROFIT 270,000 Additional information for the financial year: Accounts receivable decreased by $30,000 . Inventory increased by $50,000 Accounts payable to suppliers of inventory decreased by $15,000 Wages payable increased by $8,000 Buildings increased by $120,000 Net cash from operating activities at 30 June 2020 was $333,000 Time left 2:21:26 Required Prepare the note for DUBLIN Ltd reconciling operating profit with the net cash flow from operating activities for the year ending 30 June 2020 (Indirect method), (use the template below)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started