In: Accounting
Rupert Ltd is preparing a Cash Flow Statement for the year ended 30 June 2020. The following information is available:
2020 |
2019 |
|
Cash at Bank |
788 |
556 |
Accounts Receivable |
775 |
610 |
Inventory |
834 |
867 |
Accounts Payable |
521 |
501 |
Salaries Payable |
90 |
360 |
The Income Statement contained the following data as at 30 June:
2020 |
|
Credit sales |
6,583 |
Cost of sales |
3,400 |
Wages expense |
1,070 |
Other expenses |
1,920 |
Required:
Using the direct method, prepare the Operating Activities section of the Cash Flow Statement for the year ended 30 June 2020. Show workings.
The Operating Activities section of the Cash Flow Statement for the year ended 30 June 2020 is as follows:
Rupert Ltd
Statement of cash flow (Direct)
for the year ended 30 June 2020
Particular | 2020 | 2019 |
---|---|---|
Operating Activities: | ||
Cash from Customer: | ||
Sales Revenue | 6,583 | |
Less: Cash Paid for: | ||
Cost of sales | ( 3,400) | |
Accounts Receivable | (165) | |
Inventory | 33 | |
Accounts Payable | 20 | |
Salaries Payable | ( 270) | |
Wages expense | (1,070) | |
Other expenses | (1,920 ) | (6,772) |
Net Cash from operating activities | ($189) |