The following is a copy of the summary cash book of Tommy Hox Limited for 2021. Required:
Question:
The following is a copy of the summary cash book of Tommy Hox Limited for 2021.
Required:
(a) Prepare a statement of cash flows for Tommy Hox Limited for the year ended 31 January 2021, including the reconciliation between opening and closing bank balance.
(b) Outline what it tells the managers of Tommy Hox Limited.
Transcribed Image Text:
Balance b/d 1/1/21 Capital Sale of inventory Loan Land sale proceeds Interest Income Tommy Hox Limited Summary cash book £ 88 80 880 800 808 8 2,664 Dividend Loan Factory Interest Rent and Utilities Taxation Purchase of inventory Balance c/d £ 10 444 400 3 24 6 666 1,111 2,664
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
To prepare the statement of cash flows for Tommy Hox Limited we need to classify the transactions into the following categories Operating activities T...View the full answer
Answered By
Ernie Moises Evora
I have worked as a teacher, a tutor and instructor.
I have also worked as a community leader in my community.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting For Non Accounting Students
ISBN: 9781292286938
10th Edition
Authors: John Dyson, Ellie Franklin
Question Posted:
Students also viewed these Business questions
-
The following is a copy of the auditors working paper for auditing cash at bank balances for the client New Millennium Eco products. It shows the details of the bank confirmation requests. Required...
-
The following is a copy of the auditors working paper for auditing accounts receivable balances for the client New Millennium Ecoproducts. It shows the details of the cut-off tests. Required (a) Find...
-
The following is a copy of the auditors working paper for auditing inventory balances for the client New Millennium Ecoproducts. It shows the details of the net realizable value (NRV) tests. Required...
-
On July 1, Novak Corporation purchases 570 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 320 shares of the treasury stock for cash...
-
Suppose the population of grade-point averages (GPAs) for students at the end of their first year at a large university has a mean of 3.1 and a standard deviation of .5. Draw a picture of the...
-
The drawing shows an ideal gas confined to a cylinder by a massless piston that is attached to an ideal spring. Outside the cylinder is a vacuum. The crosssectional area of the piston is A = 2.50 ...
-
A mass hanging from a spring undergoes vertical simple harmonic motion. a. Where in the motion is the magnitude of the net force equal to zero? b. Where in the motion is the velocity equal to zero?...
-
In January 2015, Kirkland University receives a pledge of $200,000, to be used exclusively to support research in a specialized area of communication disorders. The universitys scal year ends on July...
-
Suppose that arandom sampleof 16 recently sold houses in a certain city has ameansales price of $280,000, with astandard deviationof $13,000. Under the assumption that house prices arenormally...
-
A point load of 500 kN is applied on an elastic medium with Poissons ratio of 0.2. Compare the vertical stress increase at the following locations as determined by the Boussinesq ( B ) and...
-
Which UK entities may adopt IAS 7?
-
Critically discuss the latest attempt of the UK Government to ensure the prompt payment of supplier invoices for government contracts. Compare that with the needs of businesses working outside...
-
Given p = 0.45 and n = 200, compute the standard error of the proportion.
-
In many cities, African-American people fare worse than White or Hispanic people fare on a variety of indicators. For this assignment, you are tasked with creating a report (in the format of your...
-
1. Do you agree that "planning is a bridge between the present and the future"? Explain 2. Discuss some of the reasons as to why planning is an important function of management. How does planning...
-
A portion of the currently running process's page table is shown below: Virtual page # Reference Valid bit Dirty bit Frame # bit 7 1 1 1 3 8 0 0 0 9 1 0 1 -- 4 10 0 0 11 12 1 1 1 1 0 0 - 0 0 1 Assume...
-
When did the split between the two primate suborders (Strepsirrhini and Haplorrhini) occur? Group of answer choices 100-110 million years ago 5-10 million years ago 70-80 million years ago 30-40...
-
Motivations for investing in the futures market includes all of the following EXCEPT Question 2 options: speculation. hedging a current holding against the risk of an adverse price change. the...
-
Despite Australia adopting IFRSs issued by the IASB, the Australian Accounting Standards Board (AASB) has not adopted the International Financial Reporting Standard for Small and Medium-sized...
-
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
-
Discuss the promotion a new grocery products producer would need in order to d e velop appropriate channels and move products through those channels. Would the nature of this job change for a new...
-
Describe the advantages and disadvantages of the approaches to international market entry discussed in this chapter.
-
Hydropump, Inc., produces and sells high-quality pumps to business customers. Its marketing research shows a growing market for a similar type of pump aimed at final consumersfor use with...
-
Angle of incidence is the angle at which Sun's rays strike Earth's surface. One way to understand angle of incidence is to think of someone shining a flashlight in your direction. If the flashlight...
-
Stannard PC Plus, Inc. repairs & sells new computers. The ending balance in the inventory account on September 30, 2012 was 8 units at $265 per unit. The company uses a perpetual inventory system and...
-
How does the concept of change leadership differ from traditional notions of management, and what competencies are required for leaders to effectively navigate the complexities of change, inspire...
Study smarter with the SolutionInn App