Question 1 Not yet answered Marked out of 1.00 Flag question A Statement of Cash Flows could be described as: Select one: A summary of the income and expenses and resultant profit or loss of a business for a reporting period. A summary of the assets and liabilities of a business at the end of the reporting period. ○ A summary of all payments and receipts of cash by a business for a reporting period where the cash transactions are classified as Operating, Investing and Financing activities. A summary of the receipts of cash by a business for a reporting period where the cash transactions are classified as Operating, Investing and Financing activities. Question 2 Not yet answered Investments that are convertible to cash such as at-call deposits, bank overdrafts on demand, bank bills and money-market deposits when they are near maturity, are examples of: Select one: Marked out of 1.00 Flag question Cash on hand Cash Holdings Profit O Cash Equivalents Question 3 Not yet answered Marked out of 1.00 Flag question The following is a summary of the receipts and payments for L. K's Business: Note: Assume 10% GST has been included where applicable. Receipts Payments 30/06/21 Cash Sales 33,000 30/06/21 Accounts Payable 63,800 Accounts Receivable 116,600 Wages 24,000 Westbank Finance 20,000 Equipment purchase 26,400 Capital - L. Kington 15,000 Westbank loan interest 1,000 Sale of Equipment 4,400 Operating Expenses 35,200 189,000 Drawings 30,000 GST paid to ATO 2,000 182,400 Based on the information provided within the table above, the Net Cash from Operating Activities is: Select one: 6,600 21,600 46,600 ○ 13,400
Question 1 Not yet answered Marked out of 1.00 Flag question A Statement of Cash Flows could be described as: Select one: A summary of the income and expenses and resultant profit or loss of a business for a reporting period. A summary of the assets and liabilities of a business at the end of the reporting period. ○ A summary of all payments and receipts of cash by a business for a reporting period where the cash transactions are classified as Operating, Investing and Financing activities. A summary of the receipts of cash by a business for a reporting period where the cash transactions are classified as Operating, Investing and Financing activities. Question 2 Not yet answered Investments that are convertible to cash such as at-call deposits, bank overdrafts on demand, bank bills and money-market deposits when they are near maturity, are examples of: Select one: Marked out of 1.00 Flag question Cash on hand Cash Holdings Profit O Cash Equivalents Question 3 Not yet answered Marked out of 1.00 Flag question The following is a summary of the receipts and payments for L. K's Business: Note: Assume 10% GST has been included where applicable. Receipts Payments 30/06/21 Cash Sales 33,000 30/06/21 Accounts Payable 63,800 Accounts Receivable 116,600 Wages 24,000 Westbank Finance 20,000 Equipment purchase 26,400 Capital - L. Kington 15,000 Westbank loan interest 1,000 Sale of Equipment 4,400 Operating Expenses 35,200 189,000 Drawings 30,000 GST paid to ATO 2,000 182,400 Based on the information provided within the table above, the Net Cash from Operating Activities is: Select one: 6,600 21,600 46,600 ○ 13,400
Chapter10: Financial Statements And Reports
Section: Chapter Questions
Problem 1M
Related questions
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Transcribed Image Text:Question 1
Not yet
answered
Marked out of
1.00
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question
A Statement of Cash Flows could be described as:
Select one:
A summary of the income and expenses and resultant profit or loss of a business for a reporting period.
A summary of the assets and liabilities of a business at the end of the reporting period.
○ A summary of all payments and receipts of cash by a business for a reporting period where the cash transactions are
classified as Operating, Investing and Financing activities.
A summary of the receipts of cash by a business for a reporting period where the cash transactions are classified as
Operating, Investing and Financing activities.
Question 2
Not yet
answered
Investments that are convertible to cash such as at-call deposits, bank overdrafts on demand, bank bills and money-market
deposits when they are near maturity, are examples of:
Select one:
Marked out of
1.00
Flag
question
Cash on hand
Cash Holdings
Profit
O Cash Equivalents
Transcribed Image Text:Question 3
Not yet
answered
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1.00
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question
The following is a summary of the receipts and payments for L. K's Business: Note: Assume 10% GST has been included
where applicable.
Receipts
Payments
30/06/21 Cash Sales
33,000 30/06/21 Accounts Payable
63,800
Accounts Receivable
116,600
Wages
24,000
Westbank Finance
20,000
Equipment purchase
26,400
Capital - L. Kington
15,000
Westbank loan interest
1,000
Sale of Equipment
4,400
Operating Expenses
35,200
189,000
Drawings
30,000
GST paid to ATO
2,000
182,400
Based on the information provided within the table above, the Net Cash from Operating Activities is:
Select one:
6,600
21,600
46,600
○ 13,400
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