20212020Net profit for the year23002150RECEIPTS FROM GRANTS FOR THE FINANCIAL YEAR800300Revenue from grants for the financial year200150Profit on the sale of fixed assets and investments in the financial year4000Staff compensation provisions250200Loss on impairment of fixed assets for use400100Depreciation for use500450Other operating costs22002100Total operating expenses33502850 Taking into account that the income and expenses of the year are realized either in cash or with short-term credit, the working capital created or consumed during the fiscal year 2021 by the operating activity is;

Answered: Taking into account that the income and…

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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	2021	2020
Net profit for the year	2300	2150
RECEIPTS FROM GRANTS FOR THE FINANCIAL YEAR	800	300
Revenue from grants for the financial year	200	150
Profit on the sale of fixed assets and investments in the financial year	400	0
Staff compensation provisions	250	200
Loss on impairment of fixed assets for use	400	100
Depreciation for use	500	450
Other operating costs	2200	2100
Total operating expenses	3350	2850

Taking into account that the income and expenses of the year are realized either in cash or with short-term credit, the working capital created or consumed during the fiscal year 2021 by the operating activity is;

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