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URGENT!! Appreciate it if anyone could solve this. Thank you. Prepare the statement of cash flows using the direct method. The following selected data for
URGENT!! Appreciate it if anyone could solve this. Thank you.
Prepare the statement of cash flows using the direct method.
The following selected data for Alisya Corporation for the year ended 30 June 2013 is available for the preparation of the statement of cashflow. Cost of goods RM500,000 Sales revenue RM900,000 sold Loss on sale of RM 4,000 Interest RM 6,000 marketable revenue securities Operating RM 300,000 Dividend RM 3,000 expenses revenue Interest expense RM 35,000 Gain on sale of RM 31,000 Plant assets Income tax RM 36,000 expense The Cash account began the year with a balance of RM20,000 and ended the year with a balance of RM 55,000. Operating expenses is inclusive of RM 40,000 for depreciation Other information are : Marketable securities increased RM21,000 Note receivable increased RM 5,000 Accounts receivable increased RM30,000 Accrued interest receivable decreased RM 1,000 Inventory increased RM10,000 Prepaid expenses increased RM 3,000 Short term notes payable decreased RM10,000 Accounts payable increased RM15,000 Interest payable increased RM 7,000 Income tax payable decreased RM 2,000 Other accrued expenses payable decreased RM 6,000 Long term notes payable increased RM40,000 Bonds payable increased RM100,000 Capital stock increased RM10,000 Additional Paid in capital increased RM 40,000 Retained earnings increased RM 25,000 Acquisition of plant assets RM160,000 Purchases of marketable securities RM 65,000 Issuance of common stock RM50,000 Loans made to borrowers RM17.000 Collections on loan RM12,000 Purchased of plant assets by issuing a long term RM40,000 debt Book value of plant assets sold RM44,000 Proceeds from sales of marketable securities RM40,000 Proceeds from short term borrowings RM45,000 Payment of dividends Issuance of bond payable Settlement of short term debts Income taxes paid Interest paid RM40,000 RM100,000 RM 55,000 RM 38,000 RM 28,000 1. Prepare the statement of cash flows for Alisya Corporation for the year ended 30 June, 2013, using the direct method. (Show all calculations) (32 marks) 2. Illustrate the format of the indirect method for the operating activities (10 marks) 3. Describe how cash transactions are classified in the statement of cash flowsStep by Step Solution
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