Question: Additional Information: (a) Net profit for the year 2019 amounted to 1,20,000. (b) During the year, a machine costing 50,000 (accumulated depreciation 20,000 ) was

Additional Information: (a) Net profit for the year 2019 amounted to

Additional Information: (a) Net profit for the year 2019 amounted to 1,20,000. (b) During the year, a machine costing 50,000 (accumulated depreciation 20,000 ) was sold for 26,000. The provision for depreciation against machinery as of March 31, 2018, was 1,00,000, and on March 31,2019 , 1,70,000. You are required to prepare a cash flow statement

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Bar OC rotates with a clockwise angular velocity w OC = 2 rad/s. The pin A attached to bar OC engages the straight slot of the sector. Determine the angular velocity w of the sector and the velocity...

PrintHub Ltd, is a one stop shop for 3D prints and consumables in Southern Africa. The following is an extract of the trial balance of 3D PrintHub Ltd at 30 June 2019: Additional information Dr/(Cr)...

nt consists of only one (1) question with subsections. 2. All subsections of this question must be answered. 3. All calculations must be shown. 4. Please follow the instructions in the required part...

Help with question 1 (b) will truly be appreciated. QUESTION 1 37 MARKS Ignore value-added tax and dividend tax. You are currently busy with your articles in order to qualify as a chartered...

14. 13. The members decided to distribute 30% of the profit of the close corporation, after taxation, in proportion to their contribution. These amounts will not be paid out in cash but will be left...

1.Cash flows from operating activities, as part of the statement of cash flows, include cash transactions that enter into the determination of net income. a True b. False 2. Esters Bunny Barn has...

Statement of cash flows Workings: Comparative information as at 30 June 2020 and 30 June 2021 for Pretentious Led is as follows. Cash receipts from customers: Comparative Statements of Finanais...

Problem 18.24 Statement of cash flows Comparative information as at 30 June 2020 and 30 June 2021 for Pretentious Ltd is as follows. PRETENTIOUS LTD Comparative Statemente of Financial Position as a...

Prepare the Statement of Financial Position of Solero Traders as at 28 February 2023. Note: Where applicable, show workings in the spaces provided. The Statement of Comprehensive Income and notes to...

25. Jamison Corp's balance sheet accounts as of December 31, 2021 and 2020 and information relag to 2021 activities are presented below. December 31 2021 2020 Assets Cash $ 440,000 $ 200,000...

nswer ALL questions. [20 MARKS] The master budget of Levis Limited for 2020 has largely been completed. All that remains is the preparation of the statement of financial position as at 31 December...

Your company is owed a lump sum payment of $400,000 in one year. The customer that owes the money has offered to settle the account now for $390,000. If your company can earn 3% on similar...

ACM is an electronics component manufacturer that has been located in Singapore since 1991, supplying original equipment manufacturers (OEMs) with quality components. In the past several years, ACM...

Hammer Company is in the process of adjusting and correcting its books at the end of 2 0 2 4 . In reviewing its records, the following information is compiled. 1 . Hammer has failed to accrue...

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

Name and explain the four sections of the direct plan. (Objective 2)

Prepare a memo to your instructor describing the advantages and features of the simplified letter format.

Display the following date, inside address, salutation, and text as (a) a letter using full block format and open punctuation, (b) a letter using modified block format with indented paragraphs and...