From the following Summary Cash Account of X Ltd. prepare Cash Flow Statement for the year...
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From the following Summary Cash Account of X Ltd. prepare Cash Flow Statement for the year ended 31st March, 20X1 in accordance with AS 3 (Revised) using the direct method. The company does not have any cash equivalents. Balance on 1.4.20X0 Issue of Equity Shares Receipts from Customers Sale of Fixed Assets Summary Cash Account for the year ended 31 3.20X1 7000 50 Payment to Suppliers 300 Purchase of Fixed Asset 2,800 Overhead expense 100 Wages and Salaries Taxation Dividend 3,250 Repayment of Bank Loan Balance on 31.3.20X1 000 2,000 200 200 100 250 50 300 150 3,250 From the following Summary Cash Account of X Ltd. prepare Cash Flow Statement for the year ended 31st March, 20X1 in accordance with AS 3 (Revised) using the direct method. The company does not have any cash equivalents. Balance on 1.4.20X0 Issue of Equity Shares Receipts from Customers Sale of Fixed Assets Summary Cash Account for the year ended 31 3.20X1 7000 50 Payment to Suppliers 300 Purchase of Fixed Asset 2,800 Overhead expense 100 Wages and Salaries Taxation Dividend 3,250 Repayment of Bank Loan Balance on 31.3.20X1 000 2,000 200 200 100 250 50 300 150 3,250
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To prepare a Cash Flow Statement using the direct method we need to categorize the cash flows into o... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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