Trufil Corporarion's year ending is Dec 31. Its comparitive balance sheet for 2019 and 2020: 2019 2020 2019 Cash Inventory Accounts Receivable Office equipment Plant & Machinery Investments Sales Cost of Goods sold Salaries & wages utilities Vehicle lease expense Depreciation expense 11,050 63,450 Office expenses Net Profit 69,800 36,200 116,450 4,100 Accounts Payable 49,800 Salaries Payable Long term loans 6,400 8,550 303,350 398,400 Income statement of Trufil as on Dec 31, 2020 is as under: 96,600 41,050 Share capital 198,300 698,300 488,600 209,700 101,300 Retained earnings 9,450 5,610 11,050 69,840 12,450 Prepare cash flow statement of Trufil as of Dec 31, 2020 using Indirect method 116,350 6,950 57,250 63,400 59,400 303,350 2020 124,100 2,150 119,550 72,100 80,500 398,400

Trufil Corporarion's year ending is Dec 31. Its comparitive balance sheet for 2019 and 2020: 2019 2020 2019 Cash Inventory Accounts Receivable Office equipment Plant & Machinery Investments Sales Cost of Goods sold Salaries & wages utilities Vehicle lease expense Depreciation expense 11,050 63,450 Office expenses Net Profit 69,800 36,200 116,450 4,100 Accounts Payable 49,800 Salaries Payable Long term loans 6,400 8,550 303,350 398,400 Income statement of Trufil as on Dec 31, 2020 is as under: 96,600 41,050 Share capital 198,300 698,300 488,600 209,700 101,300 Retained earnings 9,450 5,610 11,050 69,840 12,450 Prepare cash flow statement of Trufil as of Dec 31, 2020 using Indirect method 116,350 6,950 57,250 63,400 59,400 303,350 2020 124,100 2,150 119,550 72,100 80,500 398,400

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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