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The following information is for Splish Ltd . for the year ended June 3 0 , 2 0 2 4 . p SPLISH LTD .
The following information is for Splish Ltd for the year ended June p SPLISH LTD Statement of Financial Position As at June Assets Current assets: Cash $ $ Accounts receivable Inventory Total current assets Equipment Accumulated depreciation, equipment Land $ $ Liabilities and shareholders' equity Current liabilities Accounts payable $ $ Dividends payable Total current liabilities Bank loan payable Common shares Retained earnings $ $ SPLISH LTD Statement of Income For the year ended June Sales revenue $ Cost of goods sold Gross profit Expenses Wages expense $ Depreciation expense Rent expense Income tax expense Operation income Gain on sale of equipment Net income $ Additional information: Land was sold at cost and none was purchased during the year. In January, Splish sold for cash equipment that had an original cost of $ and a net carrying amount of $ a Using the information above, prepare the statement of cash flows for Splish Ltd for the year ended June using the indirect method. Show amountsthat decrease cash flow with either a sign eg or in parenthesis eg SPLISH LTD Statement of Cash Flows, Indirect Method For the Year Ended June Cash Flows from O Net Income $ $ b Determine the cash flows from operating activities using the direct method. Show amounts that decrease cash flow with either a sign eg or in parenthesis eg
The following information is for Splish Ltd for the year ended June p
SPLISH LTD
Statement of Financial Position
As at June
Assets
Current assets:
Cash $ $
Accounts receivable
Inventory
Total current assets
Equipment
Accumulated depreciation, equipment
Land
$ $
Liabilities and shareholders' equity
Current liabilities
Accounts payable $ $
Dividends payable
Total current liabilities
Bank loan payable
Common shares
Retained earnings
$ $
SPLISH LTD
Statement of Income
For the year ended June
Sales revenue $
Cost of goods sold
Gross profit
Expenses
Wages expense $
Depreciation expense
Rent expense
Income tax expense
Operation income
Gain on sale of equipment
Net income $
Additional information:
Land was sold at cost and none was purchased during the year.
In January, Splish sold for cash equipment that had an original cost of $ and a net
carrying amount of $
a
Using the information above, prepare the statement of cash flows for Splish Ltd for the year
ended June using the indirect method. Show amountsthat decrease cash flow with
either a sign eg or in parenthesis eg
SPLISH LTD
Statement of Cash Flows, Indirect Method
For the Year Ended June
Cash Flows from O
Net Income $
$
b Determine the cash flows from operating activities using the direct method. Show amounts
that decrease cash flow with either a sign eg or in parenthesis eg
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