Question: Prepare Cash Flow Statement using DIRECT METHOD. Question # 5: You have been given the following financial statements of Ravi Company Ltd. Prepare statement of

Prepare Cash Flow Statement using DIRECT METHOD.

Question # 5: You have been given the following financial statements of Ravi Company Ltd. Prepare statement of cash flows for the year ended December 31, 2006 using direct method. Statement of Financial Position Cas Trade receivable Allowance for doubtful debts Prepaid expenses Inventories Fixed assets Cost 2006 Rs. '000' 126 418 (19) 75 576 2,040 Accumulated depreciation (540) 2.676 2005 Rs. 000, 387 268 (12) 52 458 1,260 480) 1,933 Trade payable 789 662

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