Question: The following information relates to Sydney Computer Services. Income Statement for the year ended 30 June 2013 Additional Information: The Owner withdrew $20,000 through the

The following information relates to Sydney Computer Services.
Income Statement for the year ended 30 June 2013

The following information relates to Sydney Computer Services.Income Statement for

Additional Information:
The Owner withdrew $20,000 through the year for her own use.
Required:
a) Calculate cash receipts from clients.
b) Calculate cash paid for the purchase of computer parts.
c) Prepare a classified statement of cash flow for the year ended 30 June 2013.

$70 000 Income from clients Less Expense Parts for computer repairs Salaries for repair staff Vehicle expenses Depreciation of equipment Net Profit 6 400 38 250 9 050 600 54 300 S15 700 Balance sheets as at 30 June 2012 2013 Cwrent Assets Cash at bank Debtors 20 100 1 500 21 600 1 950 11 650 13 600 Fixed Assets Equipment Less Accumulated. Depreciation Land and Buildings 15 700 1800 15 700 14 500 225 000 $261 100 13 900 225 000 Curent Liabilities Creditors for computer parts Long Term Liabilities Mortgage Equity Capital The Owner 3 000 2 700 120000 116000 138 100 $261 100 133 800 $252 500

Step by Step Solution

3.47 Rating (180 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Sydney Computer Services b c Income clients Debtors start Debtor... View full answer

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

Document Format (1 attachment)

Word file Icon

862-B-A-G-F-A (8322).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!