question archive The following summary Cash Account has been extracted from the company’s accounting records: Summary Cash Account ‘000 Balance at 01
The following summary Cash Account has been extracted from the company’s accounting records: Summary Cash Account ‘000 Balance at 01
Subject:AccountingPrice:2.84 Bought3
The following summary Cash Account has been extracted from the company’s accounting
records:
Summary Cash Account ‘000
Balance at 01.01.2019 35
Receipts from customers 2,783
Issue of Shares 300
Sale of Fixed Assets 128
3,246
Payment to suppliers 2047
Payment for Fixed Assets 230
Payments for Overheads 115
Wages and salaries 69
Taxation 243
Dividends 80
Repayment of bank loans 250 3,034
Balance as on 31.12.2020 212
Prepare Cash Flow Statement. The company does not have any Cash Equivalents.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
| Prepare cash flow statement as shown below: | |||
| Cash flow from operating activities | |||
| Receipts from customers | 2783 | ||
| Payment to suppliers | -2047 | ||
| Payment for overhead | -115 | ||
| Wages and salaries | -69 | ||
| Taxation | -243 | ||
| Net cash flow from operating activities | 309 | ||
| Cash flow from investing activities | |||
| Purchase of fixed assets | -230 | ||
| Sale of fixed assets | 128 | ||
| Net cash flow from investing activities | -102 | ||
| Cash flow from financing activities | |||
| Issue of share | 300 | ||
| Dividend paid | -80 | ||
| Repayment of bank loan | -250 | ||
| Net cash flow from financing activities | -30 | ||
| Net increase in cash flow | 177 | ||
| Add: Beginning cash balance | 35 | ||
| Ending cash balance | 212 |
