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it's all about accounting. hope you help me. I can read handwritten well so please you excel or word if you need. Thank you The
it's all about accounting. hope you help me. I can read handwritten well so please you excel or word if you need. Thank you
The following financial statements were prepared for Gardenia Pty Ltd at 30th June 2020: Gardenia Pty Ltd Balance Sheet as at 30 June ......... Assets 2019 2020 Cash at bank 7,000 25,000 Accounts Receivable 40,000 50,000 Inventory 45,000 65,000 Prepayments 3,000 5,000 Buildings 400,000 500,000 Accumulated Depreciation-buildings - 10,000 -15,000 Motor Vehicles 60,000 70,000 Accumulated Depreciation-vehicles -15,000 -19,000 Total Assets 530,000 681,000 Liabilities Accounts Payable 30,000 45,000 Tax Payable 45,000 55,000 Mortgage 80,000 120,000 Total Liabilities 155,000 220,000 Equity Capital 250,000 269,000 Retained Earnings 125,000 192,000 Total Equity 375,000 461,000 Total Liabilities and Equity 530,000 681,000 Gardenia Pty Ltd Income Statement for the year ending 30 June 2020 Sales 535,000 Cost of sales 210,000 Gross Profit 325,000 Expenses 55,000 Depreciation of buildings 5,000 Depreciation of motor vehicles 6,000 Interest expense 9,000 Loss on sale of motor vehicle 5,000 80,000 Net Profit before tax 245,000 Tax Expense 15,000 Net Profit after tax 230,000 Additional information: During the year, a motor vehicle which had cost $15,000 was sold for $8,000 cash. Dividends were paid during the year. Required: Prepare a Statement of Cash Flow for Gardenia Pty Ltd, using the direct method, at 30th June 2020Step by Step Solution
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