Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

I'm practicing for myself so I tried to solve but I think I need help. This one about Statement of Cash Flows includes a theory

I'm practicing for myself so I tried to solve but I think I need help. This one about Statement of Cash Flows includes a theory question relating to the purpose and usefulness of a statement of cash flow.

image text in transcribed

The information below relates to SY Traders for the year ended 30 June 2020. Sales revenue 352,000 Accrued wages 15,000 Bank balance 1 July 2019 ($22,000) Cash paid to suppliers 192,200 Cash receipts from customers 294,000 Payments to employees and for expenses 25,000 Bank loan received 6,600 Property taxes paid 20,000 Depreciation of equipment 45,600 Interest received 20,500 Cash received from sale of share market investments 55,000 Cash paid to purchase computer hardware 40,000 Issued shares in exchange for block of land 100,000 Dividends paid 29,000 Interest paid 30,000 Net profit after tax 76,000 Required: a) Prepare SY's Statement of Cash Flows for the year ended 30 June 2020. b) What is the most important section in SY's Statement of Cash Flow? Explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Precalculus

Authors: Michael Sullivan

9th edition

321716835, 321716833, 978-0321716835

Students also viewed these Accounting questions