QUESTION 1Prepare a statement of cash flows of Mr. Martin, for theyear ended 31 Dec 2021Cash receipts from customers $200,000Cash paid to CreditorsDividend paid$155,000$2,000Paid for utilities$1,300Purchase of Equipment$36,000Sale of old fixtures$2,900Refund of tax$3,700DrawingsCapital contributionCity Bank Loan$13,500$52,800$9,100Repayment of Bank LoanSalaries paid$4,400$3,500Interest received$11,700Dividend received$12,660Paid for Income tax$8,300Depreciation on Equipment $,10,000Accumulated depreciation $12,000Bad debts$2,600Provision for bad debts$1,500Discount allowed$7,700Paid for advertisement$3,900Owner's additional capital $11,000

Cash Flow Statement (Direct Method) Cash Flow from Operating Activities Amount (In $) Amount…

QUESTION 1 Prepare a statement of cash flows of Mr. Martin, for the year ended 31 Dec 2021 Cash receipts from customers $200,000 Cash paid to Creditors Dividend paid $155,000 $2,000 Paid for utilities $1,300 Purchase of Equipment $36,000 Sale of old fixtures $2,900 Refund of tax $3,700 Drawings Capital contribution City Bank Loan Repayment of Bank Loan Salaries paid $13,500 $52,800 $9,100 $4,400 $3,500 Interest received $11,700 Dividend received $12,660 Paid for Income tax $8,300 Depreciation on Equipment $,10,000 Accumulated depreciation $12,000 $2,600 Bad debts Provision for bad debts $1,500 Discount allowed $7,700 Paid for advertisement $3,900 Owner's additional capital $11,000

QUESTION 1 Prepare a statement of cash flows of Mr. Martin, for the year ended 31 Dec 2021 Cash receipts from customers $200,000 Cash paid to Creditors Dividend paid $155,000 $2,000 Paid for utilities $1,300 Purchase of Equipment $36,000 Sale of old fixtures $2,900 Refund of tax $3,700 Drawings Capital contribution City Bank Loan Repayment of Bank Loan Salaries paid $13,500 $52,800 $9,100 $4,400 $3,500 Interest received $11,700 Dividend received $12,660 Paid for Income tax $8,300 Depreciation on Equipment $,10,000 Accumulated depreciation $12,000 $2,600 Bad debts Provision for bad debts $1,500 Discount allowed $7,700 Paid for advertisement $3,900 Owner's additional capital $11,000

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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