Question
Income Statement: Profit Depreciation expense Amortization of patent 2020 Gain/Loss on sale of Machinery $642,600 58,500 27,000 ? Statement of Financial Position: 30 June 2020
Income Statement: Profit Depreciation expense Amortization of patent 2020 Gain/Loss on sale of Machinery $642,600 58,500 27,000 ? Statement of Financial Position: 30 June 2020 30 June 2019 Cash ? $677,160 Accounts receivable 645,600 689,100 Inventory 771,600 591,900 Accounts payable 417,300 453,600 Accrued Expenses payable 294,300 257,400 Additional Information to be noted during the year: (1) Reacquired the Company's 30,000 ordinary shares in the market at $2.35 per share. (2) Sold the old machinery at cash of $360,000 (the cost of the machinery is $751,500 and the accumulated depreciation at disposal was $420,000). (3) Purchased a new machinery for cash at $750,000. (4) Made a loan of $300,000 to Rose Company. (5) Issued 8,000 8% preference shares at its par value $54 per share. (6) Declared and paid the dividend on preference shares issued under (5). Required: Prepare the statement of cash flows for the year ended 30 June 2020 using the indirect method for Jasmine Company. Place parentheses around those dollar amount representing cash outlays
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