The following information was taken from the comparative financial statements of Rosso's Hardware Store prepared on an accrual basis: ROSSO'S HARDWARE STORE Comparative Financial Statements 2013 2012 Sales revenue $870 000 $810 000 Cost of sales $340 000 $319 500 Expenses (including Depreciation Expense of $63 000 p.a.) $333 000 $315 000 Profit $180 000 S175 500 Year-end accounts receivable $166 500 S150 000 Year-end inventory $117 000 $137 000 $ 70 000 $ 35 Year-end accounts payable $76 500 Year-end wages payable 22 500 $ 35 000 Required Part (a) - Prepare a schedule to show the net cash flow provided by Operating Activities during 2013 in accordance with AASB 107 - Cash Flow Statements. Assume there is no income tax, GST. or write-off of bad debts.

The following information was taken from the comparative financial statements of Rosso's Hardware Store prepared on an accrual basis: ROSSO'S HARDWARE STORE Comparative Financial Statements 2013 2012 Sales revenue $870 000 $810 000 Cost of sales $340 000 $319 500 Expenses (including Depreciation Expense of $63 000 p.a.) $333 000 $315 000 Profit $180 000 S175 500 Year-end accounts receivable $166 500 S150 000 Year-end inventory $117 000 $137 000 $ 70 000 $ 35 Year-end accounts payable $76 500 Year-end wages payable 22 500 $ 35 000 Required Part (a) - Prepare a schedule to show the net cash flow provided by Operating Activities during 2013 in accordance with AASB 107 - Cash Flow Statements. Assume there is no income tax, GST. or write-off of bad debts.

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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