Cam Ltd.'s organisational policies and procedures requires all financial reports to be produced in Microsoft Excel.
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Cam Ltd.'s organisational policies and procedures requires all financial reports to be produced in Microsoft Excel.
Cash Book | |||
Opening balance | 1,920 | Accounts payable | 3,300 |
Accounts receivable | 8,130 | New plant purchase | 1,000 |
Cash sales | 1,350 | Other operating expenses | 4,500 |
Sale of plant | 1,200 | Salaries and wages | 1,100 |
Share capital | 1,800 | Current tax paid | 500 |
Dividends payable | 600 | ||
Closing balance | 3,400 | ||
$14,400 | $14,400 |
Comparative Account Balances | ||||
30/06/2021 | 30/6/2022 | |||
Assets | ||||
Bank | 1,920 | 3,400 | ||
Accounts receivable | 1,600 | 7,340 | ||
Prepaid other operating expenses | 20 | 490 | ||
Inventory | 800 | 420 | ||
Land and buildings | 2,400 | 2,400 | ||
Plant at cost | 1,520 | 1,080 | ||
Accm Depn - Plant | -1,080 | 440 | -980 | 100 |
Goodwill (net) | 150 | 120 | ||
Total assets | 7,330 | 14,270 | ||
Liabilities and Equity | ||||
Accounts payable | 420 | 3,440 | ||
Accrued salaries and wages | 60 | 80 | ||
Dividends payable | 600 | 1,200 | ||
Current tax payable | 500 | 900 | ||
Share capital | 1,800 | 3,600 | ||
General reserve | 1,600 | 1,600 | ||
Retained earnings | 2,350 | 3,450 | ||
TOTAL | 7,330 | 14,270 |
Cam Ltd. Profit and Loss Summary for the year ended 30/6/2022 | ||
Sales (13,870, + 1,350) | 15,220 | |
Less COGS | 6,700 | |
Gross profit | 8,520 | |
Less operating expenses | ||
Depreciation | 220 | |
Salaries and wages | 1,120 | |
Loss on sale of plant | 120 | |
Impairment of goodwill | 30 | |
Other operating expense | 4,030 | 5,520 |
Operating profit before tax | 3,000 | |
Less income tax expense | 900 | |
Operating profit after tax | 2,100 |
Complete the following activities.
Student work here | ||
(b) Prepare a Cash Flow Statement in accordance with AASB107 | ||
Cash Flow Statement of Cam Ltd | ||
for the year ended 30 June 2022 | ||
Cash Flows from Operating Activities: | ||
Receipts from Customers | ||
Cash Sales | ||
Payments to Suppliers | ||
Payments to Employees | ||
Taxation Paid | ||
Other Operating Expenses | ||
Net Cash from Operating Activities | ||
Cash Flows from Investing Activities: | ||
Proceeds of Sale of Plant | ||
Purchase of Plant | ||
Net Cash used in Investing Activities | ||
Cash Flows from Financing Activities: | ||
Proceeds of Share Issue | ||
Dividends Paid | ||
Net Cash from Financing Activities | ||
Net increase in cash and cash equivalents | ||
Cash and cash equivalents at beginning of year | ||
Cash and cash equivalents at end of year | ||
(c) Reconciliation to determine net cash from operating activities. | ||
Reconciliation sheet | ||
Operating profit after tax | ||
Non-Cash Items | ||
Depreciation | ||
Impairment of Goodwill | ||
Loss on Sale | ||
Changes in Current Assets and Liabilities | ||
Increase in Accounts Receivable | ||
Decrease in Inventory | ||
Increase in Prepayments | ||
Increase in Accounts Payable | ||
Increase in Accrued Salary and Wages | ||
Increase in Provisions for Tax | ||
Net cash from Operating Activities | ||
(d) Debt to equity. | ||
Debt | ||
Equity | ||
Total | ||
Pie Chart: | ||
(e) Cash flow. | ||
Net Cash from Operating Activities | ||
Net Cash from Investing Activities | ||
Net Cash from Financing Activities | ||
Bar Chart: |
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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