The following ledger account shows the transactions in an entitys cash account during the month. Required Prepare
Question:
The following ledger account shows the transactions in an entity’s cash account during the month.
Required
Prepare a statement of cash flows based on the cash account.
Transcribed Image Text:
Opening balance Receipts from customers Dividends received Sale of motor vehicle Proceeds from loan 15 000 156 000 3 000 16 000 30 000 220 000 Cash Drawings paid Payments for wages Payments for inventory Expenses payments GST paid Interest paid Closing balance 10 000 54 000 70 000 6 000 5 000 3 000 72 000 220 000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
Statement of cash flows Cash flows from operating activities Receipts from ...View the full answer
Answered By
Sandip Nandnawar
I am a B.E (Information technology) from GECA and also have an M.C.M from The University of RTMNU, MH.
I worked as a software developer (Programmer and TL). Also working as an expert for the last 6 years and deal with complex assessment and projects. I have a team and lead a team of experts and conducted primary and secondary research. I am a senior software engg and senior expert and deal with all types of CSE and IT and other IT-related assessments and projects and homework.
5.00+
1+ Reviews
10+ Question Solved
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
Question Posted:
Students also viewed these Business questions
-
Prepare a statement of cash flows based on the transactions reported in Exercise 6Apx-1B. Bob Jacobs opened an advertising agency. The following transactions occurred during January of the current...
-
Prepare a statement of cash flows based on the transactions reported in Exercise 6Apx- 1A.
-
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2011. Also shown is a partially completed comparative balance sheet as of December 31,...
-
Instructions for the Partnership Exercise: Your assignment is to correct a defective three person partnership agreement. You need to name at least three partners in your partnership agreement. If you...
-
Suppose you have two siblings, and all three of you were born in the same month of the year. Explain how you could use simulation to estimate the probability that in a family of three children they...
-
A circular coil of radius 0.11 m contains a single turn and is located in a constant magnetic field of magnitude 0.27 T. The magnetic field has the same direction as the normal to the plane of the...
-
Name an embedded system that requires both periodic and aperiodic computation.
-
On March 15, 20X9, Troy, Peter, and Sarah formed Picture Perfect general partnership. This partnership was created to sell a variety of cameras, picture frames, and other photography accessories....
-
22. Cesar wants to draw a graph representing how he spends each hour of the day. He says that he can't use a circle graph because there are 24 hours in a day, not 100. How should you respond?
-
Design: (a) A 16-bit adder whose worst-case add-time is 10 using a 4-bit CLA as a building block. (b) The fastest 64-bit adder using a 4-bit CLA as the building block. Estimate the worst-case...
-
Locate the most recent annual financial statements for Samsung Group from its website. Examine the information in the report and answer the following questions about Samsung Groups statement of...
-
(a) Compare the adjustments necessary on the accounts (income or expense only) of Peter Burrows to reflect: (1) A cash-based; and (2) An accrual-based accounting system (assume the accounting period...
-
The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk. a. Finders fee...
-
Lawn Chopper Company sells two types of lawn mowers. The first one is a basic lawn mower, which has variable costs of $50 and sells for $150. The second type is a riding tractor with variable costs...
-
1. (a) What role should spirituality play in shaping a leader's ethical decisions and behavior? Defend your position. (b) Identify the possible dangers of workplace spirituality. (c) Which spiritual...
-
Wendy, a 4-year-old girl, decides to gift her father a teddy bear on his birthday, because Wendy likes teddy bears. She asks her elder brother to help her wrap the gift. She does not consider the...
-
What is audit invention assessment and technology audit? Explain briefly
-
Organizational Assessment is analogous to a going through complete and thorough physical exam. The culminating project for this course is for you to apply knowledge learned in this course by teaching...
-
Produce the shareholders' equity section of the balance sheet for Collingwood Copeland Ltd, a public company. Use the following information: share capital (100 000 $1 ordinary shares and 40 000 $1.50...
-
7 A 29-year-old, previously healthy man suddenly collapses at a party where legal and illicit drugs are being used. Enroute to the hospital, he requires resuscitation with defibrillation to establish...
-
A. List the four types of responsibility centre. B. Distinguish between two of these types, give an example of each type and explaining how performance in each would be evaluated.
-
Show what effect the following transactions will have on the accounting equation Assets = Liabilities + Equity. For example; owner commenced business by paying funds into a business bank account =...
-
Discuss if the following statements are true or false. a. The terms 'accounts receivable' and 'debtors' mean the same thing. b. The balance sheet is a financial statement that shows the results of an...
-
How much would a single taxpayer owe on a taxable income of $ 1 0 6 , 0 0 0 ?
-
Prepare a financial statement analysis for ALLIANCE GLOBAL GROUP INC. from 2 0 2 0 to 2 0 2 2 , and then explain or interpret the gathered data.
-
Account Title Cash Accounts receivable Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common...
Study smarter with the SolutionInn App