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prepare cash flow statement CASH FLOW EXERCISE 1 The balance sheets of R...

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prepare cash flow statement

CASH FLOW EXERCISE 1 The balance sheets of R Lester are as follows: 31.12.20xas 31.12.20x7 26,100 (13010) 13,090 Fixed assets Equipment at cost less Depreclation to date 28 500 (11450) 17,0S0 16,250 18,570 420) 8,050 4,060 Stock Debtors 14,190 8,470 Less Bad debts provision 800) 13,390 700 Cash and bank balances Less Current liabilities (4.140) 26,540 5,730) Creditors 27.610 Net current assets Loan from J Gorsey Financed by: 4.000) (10,000) Capital Opening balances bvd Add Net profit Add Cash introduced 35,760 10,240 33,590 11,070 Less Drawings (12,410) 8,560) Wote: Equipment with a book value of 1,350 was sold for 900, Depreciation written off equipment during the year was 2,610

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