Rose's Pty Ltd has the following data from its accounting records for the month ended 31 March 2021: Account 2$ Account $ Depreciation expense 26 400 Dividends paid 16 000 189 400 Acquisition of equipment Cash receipts from customers 25 000 Payment of wages 78 900 Interest received 1 700 Cash sales ? Payment to suppliers 162 300 Profit on sale of equipment 3 200 Tax paid to government 12 000 Payment of interest 19 400 Repayment of loan 17 400 The Net Cash Flow from Operating activities is $58,500, cash sales amount equals to: Select one: O a. 160,000 O b. 180,000 O c. 140,000 O d. 120,000

Rose's Pty Ltd has the following data from its accounting records for the month ended 31 March 2021: Account 2$ Account $ Depreciation expense 26 400 Dividends paid 16 000 189 400 Acquisition of equipment Cash receipts from customers 25 000 Payment of wages 78 900 Interest received 1 700 Cash sales ? Payment to suppliers 162 300 Profit on sale of equipment 3 200 Tax paid to government 12 000 Payment of interest 19 400 Repayment of loan 17 400 The Net Cash Flow from Operating activities is $58,500, cash sales amount equals to: Select one: O a. 160,000 O b. 180,000 O c. 140,000 O d. 120,000

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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Using the information below, complete the operating cash flow section of the Statement of Cash Flows for Peter Ltd using direct method. Your presentation must be consistent with the requirements of AASB107. Ignore tax. Reporting date is 30 June. The balances of selected accounts of Peter Ltd at 30 June 2021 and 30 June 2022 were ($000): 2021 2022 Cash 3850 1200 Inventory 3750 4250 Accounts receivable 2800 3500 Allowance for doubtful debts 320 260 Land 5000 5000 Plant 2750 2800 Accumulated depreciation 490 450 Accounts payable 3200 3500 Rent payable 100 130 Salaries payable 120 190 Share capital 1000 1000 Sales (on credit) 7750 6550 Cost of goods sold 1250 1100 Doubtful debts expense 280 300 Rent expense 540 450 Salaries expense 800 750 Depreciation expense 260 180 Required: Peter Ltd’s operating cash flow section extracted from the Statement of Cash Flows for year ended 30 June 2022 (Direct Method)
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