The following information is provided in respect of the business of Classic Collectors for the...
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Accounting
The following information is provided in respect of the business of Classic Collectors for the year ended the 30th of June 2022.
|
|
| $ |
| Sales on Credit |
| 220,000 |
| Expenses paid in cash |
| 72,230 |
| Receipts from customers |
| 200,540 |
| Payment to suppliers |
| 36,500 |
| Payment to employees |
| 85,300 |
| Rent received |
| 31,800 |
| Proceeds from borrowings |
| 30,000 |
| GST paid |
| 6,100 |
| Depreciation on office equipment |
| 8,650 |
| Cash paid for office equipment |
| 25,000 |
| Proceeds from sale of property |
| 150,000 |
| Repayment of loan |
| 125,000 |
| Cash contribution from owner |
| 10,000 |
| Cash taken by owner for personal use |
| 40,000 |
| Cash balance at 1 July 2022 |
| 24,810 |
Required:
Prepare a Statement of Cash flows from the relevant information provided (10 Marks)
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