Question (30) Golden Square Retirement Home - Trail Balance at 31December 2006 2005 Dr Cr Cr 500 75,000 Dr Bank Balance Capital-1 January 1.000 75,000 Accounts Payable 500 1,000 Accounts Receivable 2,500 2.000 Distributions 10,000 11,000 14,000 Fumiture at cost, less Accumulated depreciation 14,500 Land & Buildings at cost 120,000 100,000 Long-term Loans 60,000 40.000 Profit for the period 12,000 11,000 The profits were arived at as follows Dr Cr Dr Cr Rent Income Depreciation of Furniture Administration Exp Profit for the period No non-current assets were sold 22,000 20,000 1,500 2.000 8,500 (10.000 12,000 7,000 (9,000) 11,000 REQUIRED: Prepare a statement of Cash flows for the year ended 31 December 2006, using the direct methods.
Question (30) Golden Square Retirement Home - Trail Balance at 31December 2006 2005 Dr Cr Cr 500 75,000 Dr Bank Balance Capital-1 January 1.000 75,000 Accounts Payable 500 1,000 Accounts Receivable 2,500 2.000 Distributions 10,000 11,000 14,000 Fumiture at cost, less Accumulated depreciation 14,500 Land & Buildings at cost 120,000 100,000 Long-term Loans 60,000 40.000 Profit for the period 12,000 11,000 The profits were arived at as follows Dr Cr Dr Cr Rent Income Depreciation of Furniture Administration Exp Profit for the period No non-current assets were sold 22,000 20,000 1,500 2.000 8,500 (10.000 12,000 7,000 (9,000) 11,000 REQUIRED: Prepare a statement of Cash flows for the year ended 31 December 2006, using the direct methods.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question (30)
Golden Square Retirement Home - Trail Balance at 31December
2006
2005
Cr
1,000
Cr
500
75,000
Dr
Dr
Bank Balance
Capital-1 January
75,000
Accounts Payable
500
1,000
Accounts Receivable
2,500
2,000
Distributions
10,000
11,000
Fumiture at cost, less
Accumulated depreciation
14,000
14,500
Land & Buildings at cost
120,000
100,000
Long-term Loans
60,000
40,000
Profit for the period
12,000
11,000
The profits were arrived at as follows
Dr
Cr
20,000
Cr
Dr
Rent Income
Depreciation of
Furniture
Administration Exp
Profit for the
period
No non-current assets were sold
22,000
1.500
2,000
(9,000)
11,000
8,500
(10,000)
12,000
7,000
REQUIRED:
Prepare a statement of Cash flows for the year ended 31 December 2006, using the
direct methods.
II
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