Cash and cash equivalents on 31 December 2021 comprised cash in the bank of R3 000, cash float oll R900 and petty cash of R1 350 Cash and cash equivalents on 31 December 2020 comprised cast in the bank of R7 800 and petty cash of R1950. Required: Prepare Cashflow Statement for the year ended 31 December 2020 using the direct method.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is