Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please helpp Question 6 Dover Manufacturing provides the following information in regards to its operations for the year ended Jun 2018: Income statement for year

image text in transcribed

please helpp

Question 6 Dover Manufacturing provides the following information in regards to its operations for the year ended Jun 2018: Income statement for year ended 30 June 2018 Sales 847,800 Less Cost of goods sold 383,900 Gross profit 463,900 Less operating expenses 14,700 Salaries and wages 111,800 Depreciation - Plant 18,300 Doubtful debts 800 Other operating expenses 261,500 Net profit 72,300 A comparison of the current assets and current liabilities (excluding bank) for the years ended 30 June 2017 and 30 June 2018 revealed: 2017 2018 Current assets Accounts receivable 91,000 88,000 Prepayments 7,000 8,000 Inventory 52,000 57,000 Current liabilities Accounts payable 69,000 76,000 Accruals 8,000 7,000 Additional information 1. All changes in the current assets and current liabilities are the result of operating activities. 2. The cash flow statement shows net cash from operating activities of $94,400 Prepare a reconciliation of cash flows from operating activities to net profit. Please answer Question 6 here

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

Auditing Compensation And Benefits Programs

Authors: Kelli W. Vito

1st Edition

0894136720, 978-0894136726

More Books

Students also viewed these Accounting questions