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Required: Prepare a Statement of Cash flows from the relevant information provided

Required: Prepare a Statement of Cash flows from the relevant information provided

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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Question 1 The following information is provided in respect of the business of Classic Collectors for the year ended the 30th of June 2022 Sales on Credit Expenses paid in cash Receipts from customers Payment to suppliers Payment to employees Rent received Proceeds from borrowings GST paid Depreciation on office equipment Cash paid for office equipment Proceeds from sale of property Repayment of loan Cash contribution from owner Cash taken by owner for personal use Cash balance at 1 July 2022 Required: Prepare a Statement of Cash flows from the relevant information provided $ 220,000 72,230 200,540 36,500 85,300 31,800 30,000 6,100 8,650 25,000 150,000 125,000 10,000 40,000 24,810
Transcribed Image Text:Question 1 The following information is provided in respect of the business of Classic Collectors for the year ended the 30th of June 2022 Sales on Credit Expenses paid in cash Receipts from customers Payment to suppliers Payment to employees Rent received Proceeds from borrowings GST paid Depreciation on office equipment Cash paid for office equipment Proceeds from sale of property Repayment of loan Cash contribution from owner Cash taken by owner for personal use Cash balance at 1 July 2022 Required: Prepare a Statement of Cash flows from the relevant information provided $ 220,000 72,230 200,540 36,500 85,300 31,800 30,000 6,100 8,650 25,000 150,000 125,000 10,000 40,000 24,810
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