1. Cash Flow StatementsPrepare a cash flow statement for Anna’sApples Ltd using the information below....1. Cash...

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Accounting

1.    Cash Flow Statements
Prepare a cash flow statement for Anna’sApples Ltd using the information below. Use the indirect method foroperating cash flows.
Net Profit for year ended 30 June 2017:$200,000
                                                      30June2017                 1July 2016
Cash                                                         ?                             $20,000
Inventory                                            $30,000                       $40,000
AccountsPayable                               $15,000                       $30,000
UnearnedRevenue                              $12,000                       $15,000
Prepaid Insurance                              $18,000                       $33,000
Goodwill                                             $50,000                       $0
Equipment                                          $300,000                     450,000
Acc Dep’n Equipment$150,000                     $160,000
LoanPayable                                      $50,000                       $100,000
During the year equipment with a cost of$150,000 and accumulated depreciation of $50,000 was sold for$115,000. No other purchases or sales of equipment was made duringthe year.
During the year another business waspurchased for cash.

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All working forms part of the answer Statement of Cash Flows is prepared below from the available data Concepts Indirect Method No Conceptual Notes 1 Cash Flow Statement reflects the Cash Inflows and Outflows during a period of time 2 Effects of Non Cash Transaction are adjusted from Net Income 3 Depreciation Expense Amortisation expenses are Added back to Net Income in Cash Flow Statement 4 Decrease in Current Assets OR Increase in See Answer

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In: Accounting1. Cash Flow StatementsPrepare a cash flow statement for Anna’sApples Ltd using the information below....1. Cash Flow StatementsPrepare a cash flow statement for Anna’sApples Ltd using the information below. Use the indirect method foroperating cash flows.Net Profit for year ended 30 June 2017:$200,000 30June2017 1July 2016Cash ? $20,000Inventory $30,000 $40,000AccountsPayable $15,000 $30,000UnearnedRevenue $12,000 $15,000Prepaid Insurance $18,000 $33,000Goodwill $50,000 $0Equipment $300,000 450,000Acc Dep’n Equipment$150,000 $160,000LoanPayable $50,000 $100,000During the year equipment with a cost of$150,000 and accumulated depreciation of $50,000 was sold for$115,000. No other purchases or sales of equipment was made duringthe year.During the year another business waspurchased for cash.