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The information below relates to ZX Corp for the year ended 30 June 2020. The information below relates to ZX Corp for the year ended
The information below relates to ZX Corp for the year ended 30 June 2020.
The information below relates to ZX Corp for the year ended 30 June 2020. Sales revenue 462,000 Accrued wages 17,250 Bank balance 1 July 2019 ($22,000) Cash paid to suppliers 192,200 Cash receipts from customers 294,000 Payments to employees and for expenses 25,000 Bank loan received 6,600 Sales taxes paid 20,000 Depreciation of vehicles 75,650 Interest received 20,500 Cash received from sale of art investments 55,000 Cash paid to purchase delivery van 40,000 Issued shares in exchange for block of land 100,000 Dividends paid 29,000 Interest paid 30,000 Net profit after tax 275,000 Required: a) Prepare ZX's Statement of Cash Flows for the year ended 30 June 2020. b) What does ZX's Statement of Cash Flows reveal about the business? ExplainStep by Step Solution
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