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

Expert Solution

ekkarill92 answered 2 years ago

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