Account June 30 2020 June 30 2019 ...
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Accounting
| Account | June 30 2020 | June 30 2019 |
|
| $ | $ |
| Cash and cash equivalents | 95,800 | 64,000 |
| Debtors | 231,600 | 157,200 |
| Inventory | 96,720 | 104,400 |
| Plant and equipment | 100,000 | 75,000 |
| Accumulated depreciation plant and equipment | (40,000) | (29,000) |
| Total assets | 484 120 | 371,600 |
|
|
|
|
| Creditors | 71,000 | 74,400 |
| Accrued expenses | 30,000 | 33,000 |
| Long-term loan | 100,000 | 50,000 |
| Capital and reserves | 283,120 | 214,200 |
| Total liabilities and owners equity | 484 120 | 371,600 |
|
|
|
|
| Sales | 440,000 |
|
| Less: Cost of goods sold | 296,000 |
|
| Gross profit | 144,000 |
|
| Operating expenses (including depreciation) | 84,000 |
|
| Net profit | 60,000 |
|
|
|
|
|
Note: 1. No plant and equipment was sold during the year.
2. Dividends of $20,000 in cash were paid during the year.
3. All sales are on credit.
REQUIRED:
Prepare a statement of cash flows for the year ended 30 June 2020 using the direct method.
Triple Threat
Statement of Cash Flows for the year ended 30 June 2020
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash at end of the year
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