Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the information below, complete (i) the operating cash flow section of the Statement of Cash Flows and (4 marks) (ii) the note to the

image text in transcribedimage text in transcribed

Using the information below, complete (i) the operating cash flow section of the Statement of Cash Flows and (4 marks) (ii) the note to the accounts for Trader Ltd. Your presentation must be consistent with the requirements of AASB107 (4 marks). The balances of selected accounts of Trader Ltd at 30 June 2019 and 30 June 2020 were (5000): 2019 2020 Sales (on credit) 7850 6380 Cost of goods sold Doubtful debts expense Rent expense 1450 295 550 830 290 1100 325 470 740 180 Salaries expense Depreciation expense Cash 3000 1100 Inventory Accounts receivable Allowance for doubtful debts 3800 4500 2200 3700 340 280 4000 4000 2750 2800 Land Plant Accumulated depreciation 490 450 Accounts payable 3200 3500 Land 4000 4000 2750 Plant 2800 Accumulated depreciation 490 450 Accounts payable Rent payable 3200 100 120 3500 30 90 Salaries payable Share capital 1000 1000 Additional information: net profit after tax for financial year 2020 was $ 3565. reporting date is 30 June. Required: (i) Trader Ltd's operating cash flow section extracted from the Statement of Cash Flows for year ended 30 June 2020 (4 marks) (ii) Reconciliation of net cash by operating activities to net profit (4 marks) TT T Arial 3 (12pt) T - - E - S O 's

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What lessons in intervention design, does this case represent?

Answered: 1 week ago