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Business
Accounting
for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales Beginning inventory Purchases $2 000 000 4300 000 Goods available for sale 6 300 000 | 400 000 Ending inventory 4900 000 1 900 000 Cost of sales Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased S230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.

for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales Beginning inventory Purchases $2 000 000 4300 000 Goods available for sale 6 300 000 | 400 000 Ending inventory 4900 000 1 900 000 Cost of sales Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased S230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Make the statement of cash flows using direct and indirect method correctly.

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Income Statement for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales $2 000 000 Beginning inventory Purchases 4 300 000 Goods available for sale Ending inventory 6 300 000 I 400 000 4 900 000 Cost of sales 1 900 000 Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased $230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.
Transcribed Image Text:Income Statement for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales $2 000 000 Beginning inventory Purchases 4 300 000 Goods available for sale Ending inventory 6 300 000 I 400 000 4 900 000 Cost of sales 1 900 000 Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased $230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.
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