Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The current section of Yawn Ltd's statement of financial position at 30 June 2016 is presented below. 2016 2015 $ $ Current assets Cash 103,500
The current section of Yawn Ltd's statement of financial position at 30 June 2016 is presented below. | |||||||
2016 | 2015 | ||||||
$ | $ | ||||||
Current assets | |||||||
Cash | 103,500 | 99,300 | |||||
Accounts receivable | 117,900 | 88,800 | |||||
Inventory | 158,800 | 184,500 | |||||
Prepaid expenses | 26,400 | 22,600 | |||||
Total current assets | 406,600 | 395,200 | |||||
Current liabilities | |||||||
Accounts payable | 86,800 | 91,300 | |||||
Accrued expenses payable | 15,000 | 5,100 | |||||
Total current liabilities | 101,800 | 96,400 | |||||
Other information | 1. | Profit for the year ended 30 June 2016 was $148,400. | |||||
2. | Depreciation expense was $18,500. | ||||||
Required | |||||||
Prepare the net cash provided by the operating activities section of Yawn's statement of cash flows | |||||||
for the year ending 30 June 2016, using the indirect method. |
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