Kate's Catering Pty Ltd has provided below the comparative Balance Sheets for the years ended June 30 2021 and June 30 2022, and the Income Statement information for 2022. Account Cash and cash equivalents Accounts Receivable Inventory Plant and equipment Accumulated depreciation - plant and equipment Total assets Accounts Payable Accrued expenses Long-term loan Capital and reserves Total liabilities and owner's equity Sales Less: Cost of goods sold Gross profit Operating expenses (including depreciation) Net profit June 30 2022 62,240 57,120 67,600 142,480 -63,200 266,240 54,080 29,840 36,000 146,320 266,240 374,500 202,750 171,750 123,250 48,500 Note: 1. No plant and equipment were sold during the year. 2. All sales are on credit. June 30 2021 41,760 56,160 61,440 99,120 -52,800 205,680 43,360 28,160 16,000 118,160 205,680

Kate's Catering Pty Ltd has provided below the comparative Balance Sheets for the years ended June 30 2021 and June 30 2022, and the Income Statement information for 2022. Account Cash and cash equivalents Accounts Receivable Inventory Plant and equipment Accumulated depreciation - plant and equipment Total assets Accounts Payable Accrued expenses Long-term loan Capital and reserves Total liabilities and owner's equity Sales Less: Cost of goods sold Gross profit Operating expenses (including depreciation) Net profit June 30 2022 62,240 57,120 67,600 142,480 -63,200 266,240 54,080 29,840 36,000 146,320 266,240 374,500 202,750 171,750 123,250 48,500 Note: 1. No plant and equipment were sold during the year. 2. All sales are on credit. June 30 2021 41,760 56,160 61,440 99,120 -52,800 205,680 43,360 28,160 16,000 118,160 205,680

Name: Prepare Cash Flow from Operating Activities for the year ended 30 June
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Prepare Cash Flow from Operating Activities for the year ended 30 June 2022 for using the direct method (Hint: Please list the cashflow related to receipt from customers, payment to suppliers of inventory, and payment to suppliers of service/labor. Y

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 7E

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