From the following details, prepare statement showing funds from operating activities using direct method and indirect method.
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From the following details, prepare statement showing funds from operating activities using direct method and indirect method.
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Particulars To Opening stock To Purchase of goods ■ In cash ■ On credit To Direct Expenses To Sales return To Gross Profit c/d To Depreciation To Preliminary Expenses written off To Goodwill written off To Salaries and Wages Paid Add: Outstanding To Rent paid 18,000 1,000 16,000 600 Less: Pre paid To Stationery and postage To Director's Fees To Managerial Remuneration To Bad Debts To Provision for Doubtful Debts Profit and Loss Account For the year ended March 31, 2010 Amount 40,000 90,000 2,50,000 4,000 14,000 76,000 4,74,000 52,000 15,000 2,000 19,000 15,400 1,000 3,500 4,500 1,200 3,000 Particulars By Sales of goods In cash ■ On credit By Purchase return By Closing Stock By Gross Profit b/d By Investment Income By Profit on sale of Investment By Discount from Creditors Amount 3,00,000 1,00,000 6,000 68,000 4,74,000 76,000 90,000 18,000 12,000
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