The financial statements of Kaur Inc. appear below: Cash Accounts receivable Supplies Inventory Equipment Accumulated depreciation...
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The financial statements of Kaur Inc. appear below: Cash Accounts receivable Supplies Inventory Equipment Accumulated depreciation Total Liabilie Assets KAUR INC. Comparative Balance Sheet December 31 2020 $ 8,500 15,500 2,500 16,000 27,500 (10,000) $60,000 2019 $ 10,000 17,000 1,500 7,500 39,000 (12,000) $63.000 Liabilities and Shareholder's Equity Accounts payable Wages payable Bank Loan Common shares Retained earnings Total $ 10,000 6,000 3,500 19,500 21,000 $60,000 $ 11,500 5,000 15,500 12,000 19,000 $63,000 The following additional data were provided: 1. Net income was $9,000. 2. Depreciation expense of $6,000 is included in the operating expenses category. 3. During the year the company sold some equipment for $1,000 cash. The company did not purchase any equipment during 2020. REQUIRED Prepare in proper format a Cash Flow Statement for Kaur Inc., using the indirect method. The company follows IFRS. The financial statements of Kaur Inc. appear below: Cash Accounts receivable Supplies Inventory Equipment Accumulated depreciation Total Liabilie Assets KAUR INC. Comparative Balance Sheet December 31 2020 $ 8,500 15,500 2,500 16,000 27,500 (10,000) $60,000 2019 $ 10,000 17,000 1,500 7,500 39,000 (12,000) $63.000 Liabilities and Shareholder's Equity Accounts payable Wages payable Bank Loan Common shares Retained earnings Total $ 10,000 6,000 3,500 19,500 21,000 $60,000 $ 11,500 5,000 15,500 12,000 19,000 $63,000 The following additional data were provided: 1. Net income was $9,000. 2. Depreciation expense of $6,000 is included in the operating expenses category. 3. During the year the company sold some equipment for $1,000 cash. The company did not purchase any equipment during 2020. REQUIRED Prepare in proper format a Cash Flow Statement for Kaur Inc., using the indirect method. The company follows IFRS.
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To prepare the Cash Flow Statement for Kaur Inc using the indirect method analyze the changes in the companys balance sheet accounts and incorporate t... View the full answer
Related Book For
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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