Question

In: Accounting

George wants to prepare a Cash Flow Statement to understand the businesses’ financial position. George has...

George wants to prepare a Cash Flow Statement to understand the businesses’ financial position. George has asked you for assistance with the preparation of the Cash Flow Statement. The information below was provided by George for the year ended 30 June 2020.

$

Beginning cash balance at 30 June 2019

20,000

Cash paid to repay Credit Union Loan

55,000

Cash from issuing shares to a new investor

50,000

Cash paid for Wages

21,000

Cash received from customers

70,000

Cash paid to purchase new Equipment

20,000

Interest paid

15,000

Paid Dividend

10,000

Cash received from sale of fixed assets

75,000

Revenue from credit sales

10,000

Depreciation expense – equipment

35,000

Interest owing for a bank loan (payment due on 5 July 2020)

14,000

Cash paid for inventories

50,000

To help George, you are required to calculate the following cash inflows and outflows and the ending balance as of 30 June 2020:

a) Cash flow (cash receipts and payments) from operational activities

b) Cash flow (cash receipts and payments) from investing activities

c) Cash flow (cash receipts and payments) from financing activities

d) Ending cash balance

Solutions

Expert Solution


Related Solutions

Prepare statement of cash flow from the financial statement of Alfalah (Pvt) Ltd. For the year...
Prepare statement of cash flow from the financial statement of Alfalah (Pvt) Ltd. For the year ended. PROFIT AND LOSS STATEMENT 2017 RS. Sales 757,645 Cost of sales (628,143) Gross Profit 129,502 Administration expense 14,723 Other expenses 21,992 Gain on sale of fixed assets (2,000) Depreciation expenses 23,000 57,715 Profit before income tax 71,787 Income tax expenses(current) and deferred) 23,787 Net profit after tax 48,000 STATEMENT OF RETAINED EARNINGS Retained earnings, beginning of period 7,312 Net profit for the period...
From the cash flow statement, discuss the main aspects of the cash flow position of the...
From the cash flow statement, discuss the main aspects of the cash flow position of the company.   28/01/2017 30/01/2016 24/01/2015 th GBP th GBP th GBP 12 months 12 months 12 months Cons. Cons. Cons. Unqualified Unqualified Unqualified IFRS IFRS IFRS Net Cash In(Out)flow Operat. Activ. 850,400 761,300 894,900 Net Cash In(Out)flow Ret. on Invest. -31,400 -30,200 -27,900 Taxation -150,900 -153,000 -152,600 Net Cash Out(In)flow Investing Activ. -154,300 -139,300 -106,000 Capital Expenditure & Financ. Invest. Acquisition & Disposal Equity Dividends...
Prepare a balance sheet and cash flow statement using the selected financial statement information and additional...
Prepare a balance sheet and cash flow statement using the selected financial statement information and additional data for Stanislaus Co. presented below. Balance sheet    December 31 2015                                                                                                                                                       Cash..........................................................     $52,000                                                Accounts receivable (net)...........................       64,000                                                Inventory..................................................     178,000                                                Land..........................................................       78,800                                                Equipment.................................................     504,000                                                    TOTAL............................................ $876,800                                                Accumulated depreciation..........................     $94,000                                                Accounts payable.......................................       50,400                                                Notes payable - short-term........................       67,200                                                Notes payable - long-term..........................     178,000                                                Common stock...........................................     420,000                                                Retained earnings......................................       67,200                                                TOTAL............................................ $876,800                         ...
Prepare an income statement, a statement of changes in equity, and a statement of financial position...
Prepare an income statement, a statement of changes in equity, and a statement of financial position for Norman Rae Ltd., a service business, from the items listed below for the month of October, 2018: ...... Accounts payable.............................................................................       $10,000 ...... Accounts receivable.........................................................................         14,000 ...... Cash.................................................................................................         10,000 ...... Common shares...............................................................................         28,000 ...... Dividends paid..................................................................................           6,000 ...... Income tax expense.........................................................................           4,500 ...... Equipment........................................................................................         30,000 ...... Supplies............................................................................................       2,800er. ...... Supplies expense.............................................................................           3,500 ...... Rent expense......................................................................................
Prepare an income statement for December 2020 and a classified statement of financial position at December...
Prepare an income statement for December 2020 and a classified statement of financial position at December 31, 2020. On December 1, 2020, Cambridge Printers had the account balances shown below. Debit Credit Cash £ 4,650 Accumulated Depreciation – Equipment £ 1,500 Accounts Receivable 3,900 Accounts Payable 3,000 Inventory 1,950 (3,000 x £0.65) Owner’s Capital 27,000 Equipment 21,000 £ 31,500 £ 31,500 The following transactions occurred during December. December 3: Purchased 4,000 units of inventory on account at a cost of...
Prepare the 2018 cash flow statement for XYZ Corp. Assume no dividends were paid. Financial Statements...
Prepare the 2018 cash flow statement for XYZ Corp. Assume no dividends were paid. Financial Statements for XYZ Corp. Balance Sheet for Period Ending December 31. Assets 2017 2018 Cash and Marketable Securities 40 15 Accounts Receivable 160 80 Inventories 250 370 Total Current Assets 450 465 Gross Plant and Equipment 675 855 less: Accumulated Depreciation 250 300 Net Plant and Equipment 425 555 Total Assets 875 1020 Liabilities and Equity Accounts Payable 15 30 Short-term Bank Loans 35 40...
From the information given, prepare two of the three sections of the cash flow statement. Prepare...
From the information given, prepare two of the three sections of the cash flow statement. Prepare the “financing” and the “investing” sections.                                                                                                                          2019             2018 Assets Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
128). What is Financial statement and cash flow analysis?
128). What is Financial statement and cash flow analysis?
INSTRUCTIONS: Using the financial information below, prepare a proper cash flow statement, including any necessary disclosures....
INSTRUCTIONS: Using the financial information below, prepare a proper cash flow statement, including any necessary disclosures. COMPARATIVE BALANCE SHEET Year 2 Year 1 Cash      133,000      195,000 Accounts Receivable      372,000      110,000 Allowance for Doubtful Accounts       (20,000)       (10,000) Inventory      395,000      155,000 Reserve for Obsolete Inventory         (5,000)         (5,000) Prepaid Expenses        15,000                -   Equipment, net      155,000      165,000 Total Assets 1,045,000      610,000 Accounts Payable        81,000      100,000 Corporate Income...
Prepare an income statement, balance sheet and cash flow statement for the year 2023 The question...
Prepare an income statement, balance sheet and cash flow statement for the year 2023 The question no longer need to be answered
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT