Samm Statement of Changes in Equity for the year ended 31 December, 2020 Opening capital, 01 January
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Question:
Opening capital, 01 January 365,000
Cash drawings (42,900)
Capital invested during the year 170,000 45,900
Profit for the period
Ending capital, 31 December 538.000During the year, equipment with a book value of $130 000 was sold for $80 000.
The loss of sales was included in administrative expenses
Selling exp includes an annual depreciation charge of $106,800. A piece of equipment valued $287,200 was purchased during the year by cheque
Current assets at 31 December 2019 include cash at bank of $90, 000
Current assets at 31 December 2020 include cash at bank of $80, 000
Prepare a Statement of Cash Flow for the year ended 31 December 2020
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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