Question 2 (Adapted from Jul Sem 2017 Question 3) Use the indirect method to prepare...
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Question 2 (Adapted from Jul Sem 2017 Question 3) Use the indirect method to prepare the cash from or used in operating activities section only of the statement of cash flows for Clement Pte Ltd for FY 2019. Ignore income taxes. For the year ended 31 December 2019 $ $ 200,000 Revenue Expenses: Salaries expense Utilities expense Depreciation expense Miscellaneous expense Net profit/ (loss) 120,000 40,000 70,000 10,000 (240,000) (40,000) As at 31 Dec 2019 $ 20,000 Accounts receivable Prepayments Accounts payable Salaries payable As at 31 Dec 2018 $ 5,000 10,000 12,000 5,000 3,000 14,000 2,000
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