1. Cash Flow Statements
Prepare a cash flow statement for Anna’s
Apples Ltd using the information below. Use the indirect method for
operating cash flows.
Net Profit for year ended 30 June 2017:
$200,000
30
June
2017 1
July 2016
Cash ? $20,000
Inventory $30,000 $40,000
Accounts
Payable $15,000 $30,000
Unearned
Revenue $12,000 $15,000
Prepaid Insurance
$18,000 $33,000
Goodwill $50,000 $0
Equipment $300,000 450,000
Acc Dep’n Equipment
$150,000 $160,000
Loan
Payable $50,000 $100,000
During the year equipment with a cost of
$150,000 and accumulated depreciation of $50,000 was sold for
$115,000. No other purchases or sales of equipment...