The cash flows below were extracted from the accounts of Martin Jones, a music shop owner. Required
Question:
The cash flows below were extracted from the accounts of Martin Jones, a music shop owner.
Required
Prepare a statement of cash flows using the direct method.
Transcribed Image Text:
Repayment of loan Sale of property Interest received Payments to employees Receipts from customers Expenses paid Computer equipment purchase GST paid Payments to suppliers Income taxes paid Beginning cash balance $420 000 390 000 1560 63 000 295 000 16500 24 000 970 156 000 3120 8 800
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Payments to suppliers and employees Payment to employees 63000 Expenses paid 16500 Payments ...View the full answer
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Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730369325
7th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
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