Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please, I want the answer quickly Note: No depreciation has been charged. You are required to draw up a cash flow statement for the year
Please, I want the answer quickly
Note: No depreciation has been charged. You are required to draw up a cash flow statement for the year ended 31 December Mars LLC Statement of Cash Flow for the year ended 31-Dec-2019 I. Cash flow from Operating Activities: RO RO (Working Note 1) Net cash flow from Operating activities II. Cash flow from Investing Activities: Net cash flow from Investing activities III. Cash flow from Financing Activities: Net cash flow from Financing activities IV. Increase (decrease) in cash (1+II+III) moodle.uni 661001 66600 Opening balance b/d Add: Net Profit for year 15500 25440 81600 92040 Less: Drawings -15000 -17250 66600 74790 Note: No depreciation has been charged. You are required to draw up a cash flow statement for the year ended 31 December 2019. Q.1 Following are the balance sheets of Mars LLC as at 31 December 2018 and 31 December 2019: 31/12/2018 31/12/2019 Fixed Assets Land and Building at 35000 37900 cost Machinery at cost 15000 12000 Current assets Stock 7500 12850 Debtors 13750 15000 Cash and bank balances 6700 7160 27950 35010 Less Current liabilities Creditors Working capital -11350 -10120 16600 24890 66600 74790 Financed by: Capital Working Note 1. Net Cash Flow from operating activity RO RO Working note 2 Analysis of changes in cash during the year RO
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