A & L Mechanics is operated by Adrian and Len in partnership. Financial data for the partnership

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A & L Mechanics is operated by Adrian and Len in partnership. Financial data for the partnership follow.image text in transcribed

Additional information 1. All profits/losses are shared equally by Adrian and Len who also withdrew cash during the year. The vehicle that was sold had originally cost \($20\) 000 (second-hand) and had been depreciated down to $4000.
Required

(a) Prepare a statement of cash flows for the year ended 30 June 2025 using the direct method.

(b) Comment on the statement of cash flows with respect to the operating, investing and financing activities of A & L Mechanics.

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Accounting

ISBN: 9780730382737

11th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie

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