Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3. motivated is a retailer selling inspirational b

3. Motivated is a retailer selling inspirational books. The following information was provided by the...

80.2K

Verified Solution

Question

Accounting

3.

Motivated is a retailer selling inspirational books. The following information was provided by the bookkeeper for the year ended 28 February 2022:

Additional information

1. Dividends were not declared during the year ended 28 February 2022.

2. Equipment with a book value of R20 000 was sold during the year.

3. The company raised loans of R14 000 during the year ended 28 February 2022.

4. The operating costs included in the statement of comprehensive income for the year ended 28 February 2022 included the following items:

Bad debts expense 2 000

Wages expense 24 000

Rent expense 10 000

Depreciation expense 4 000

Profit on disposal of equipment 3 000

5. 20 000 Class A shares were issued for 50c each during the year and share issue costs of R2 000 were paid in this transaction.

imageimage

Required:

Prepare the cash flow statement of Motivated for the year ended 28 February 2022, using the indirect method

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

The USA has been invaded by a ship of 6 aliens -- well, sort of, they...

Physics
1.2K views

20 m long thin wire oriented in east west direction is falling with velocity 15...

Physics
1.2K views

soap bubble is charged to a potential of 16 V its radius is then doubred...

Geometry
1.2K views

15 Question 15 15 O S In a high school of 1250 stude selected Spanish...

Statistics
1.2K views

Listed below are the ages of 11 players randomly selected from the roster of a...

Calculus
1.2K views

An antiderivative of x as long as n 1 is

Accounting
1.2K views

please answer both In a one-time special order decision, Beware...

Accounting
1.2K views

odrick Company is a merchandiser...

Accounting
1.2K views

Valmont Company has developed a new industrial piece of equipment called the XP-200. The company...

Accounting
1.2K views

Answer the ten (10) questions given the following data set: ABC purchases...

Accounting
1.2K views

Janelle Higgins has decided to start her own event planning business (JH Events) in the...

Accounting
1.2K views

On July 31, 2020, Crane Company paid $2,950,000 to acquire all of the common stock...