In: Accounting
Question 1
The following statement of financial position relates to XYZ Ltd for the years ending 30 June 2019 and 30 June 2020.
XYZ Ltd Statement of Financial Position As at 30 June |
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2020 |
2019 |
|
Cash at Bank |
$ 43,000 |
$ 42,000 |
Accounts Receivable |
34,500 |
96,000 |
Inventory |
113,500 |
124,000 |
Land |
45,000 |
62,500 |
Buildings |
265,000 |
137,500 |
Accumulated depreciation – Buildings |
(100,000) |
(85,000) |
Plant & Equipment |
40,000 |
40,000 |
Accumulated depreciation – Plant & Equipment |
(10,000) |
(5,000) |
431,000 |
412,000 |
|
Accounts Payable |
67,000 |
60,500 |
Interest Payable |
250 |
750 |
Accrued Employee Expenses |
3,000 |
8,750 |
Mortgage loan payable |
66,250 |
45,000 |
Share Capital |
125,000 |
125,000 |
Asset Revaluation Reserve – Land |
20,000 |
|
Retained earnings |
149,500 |
172,000 |
431,000 |
412,000 |
Additional Information:
Sales Revenue $393,500
Cost of Sales 283,000
Required:
Prepare the statement of cash flows of XYZ Ltd for the year ended 30 June 2020 based on the direct method of presentation. Ignore tax effects. Notes are not required.
(Total = 16 marks)
Your answers:
Provide your answers from here
XYZ LTD Statement of Cash Flows for the year ended 30 June 2020 |
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Cash flows from operating activities |
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Cash flows from investing activities |
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Cash flows from financing activities |
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Net increase (decrease) in cash and cash equivalents |
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Cash and cash equivalents at beginning of period |
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Cash and cash equivalents at end of period |
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Workings:
Provide your workings from here. Please use the blank T-account format (if necessary).
Account name
Copy & pate the T-account above and use them more (if necessary)