Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 Dividends payable 30,000 Share capital 950,000 Retained Earnings 410,200 General Reserve 5,000 Details Depreciation Gain on sale of equipment 30/6/2021 30/6/2022 $ 85,000 98,000 (5,000) (7,000) 64,000 61,000 40,000 33,000 3,000 3,500 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 Net operating profit Add/less: Non cash items Additional Information: • net profit after taxation is $402,000. This profit was determined after accounting for the following inco items: Table 11 - Profit and loss $ $000 18,000 4,000 15,000 9,000 32,000 1050,000 480,000 5,000 1,474,000 1,839,500 1,200 Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the recon net profit after tax. XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Changes in current assets and current liabilities 21,000 Net cash flow from operating activities $
Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 Dividends payable 30,000 Share capital 950,000 Retained Earnings 410,200 General Reserve 5,000 Details Depreciation Gain on sale of equipment 30/6/2021 30/6/2022 $ 85,000 98,000 (5,000) (7,000) 64,000 61,000 40,000 33,000 3,000 3,500 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 Net operating profit Add/less: Non cash items Additional Information: • net profit after taxation is $402,000. This profit was determined after accounting for the following inco items: Table 11 - Profit and loss $ $000 18,000 4,000 15,000 9,000 32,000 1050,000 480,000 5,000 1,474,000 1,839,500 1,200 Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the recon net profit after tax. XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Changes in current assets and current liabilities 21,000 Net cash flow from operating activities $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Triple X Ltd has provided an extract from the balance sheets showing the following for the
years ended 30 June 2021 and 30 June 2022 were:
Table 10 - Extract balance sheet
Accounts receivable
Allowance for doubtful debts
Bank
Inventory
Prepayments
Land & Buildings (net)
Plant & Equipment (net)
Goodwill on acquisition (net)
30/6/2021
$
Net operating profit
Accounts payable
Accruals
Taxation payable
19,000
Provision for employee annual leave 12,000
9,000
Dividends payable
30,000
32,000
Share capital
950,000
1050,000
Retained Earnings
410,200 480,000
General Reserve
5,000
Add/less: Non cash items
85,000
(5,000)
64,000
40,000
3,000
1,200,000 1,560,000
67,000
86,000
20,000
5,000
1,474,000 1,839,500
47,000
65,000
800
1,200
30/6/2022
$000
18,000
$
98,000
(7,000)
61,000
33,000
3,500
Additional Information:
.
• net profit after taxation is $402,000. This profit was determined after accounting for the following income and expense
items:
Table 11 - Profit and loss
Details
1,474,000 1,839,500
4,000
15,000
Depreciation
Gain on sale of equipment
Good will impairment
Determine the net cash from operating activities for the year ended 30 June 2022 by completing the reconciliation with
net profit after tax.
21,000
Changes in current assets and current liabilities
5,000
XXX Pty Ltd
Reconciliation of net operating profit to cash flow from operating activities
Net cash flow from operating activities
$
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