The 2016 accounting records of Home and Away Travels Ltd reveal the following transactions and events. Required
Question:
The 2016 accounting records of Home and Away Travels Ltd reveal the following transactions and events.
Required
Prepare the cash flows from the operating activities section of the statement of cash flows, using the direct method.
Transcribed Image Text:
Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit Payment of accounts payable for inventory Payment for land $ 21000 84000 19600 22 400 53 200 140 000 103 600 Collection of accounts receivable $ 266000 Payment of salaries and wages Depreciation expense Proceeds from sale of aircraft Purchase of equipment for cash Loss on sale of aircraft Payment of dividends Payment of operating expenses 95 200 22 400 1136800 30 800 4200 19 600 28 000
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Cash flows from operating activities Cash received from customers 266000 Cash payment...View the full answer
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Related Book For
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
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