50.1K
Verified Solution
Link Copied!
Need Cash Flow Statement Direct and Indirect for the following
EXPENSES Common Stock (All investment made Retained Earnings by the shareholders in (Revenue - Expenses the firm) Dividends - Drawings) REVENUE (Termed as Topline) NET INCOME (Revenue - Expneses) TRANSACTION AMOUNT (USD) INCOME RECEIVABLE ADVANCE FROM CUSTOMERS PREPAID RENT ACCUMULATED INVENTORY ASSETS DEPRECIATION ACCOUNTS PROVISION PAYABLE FOR TAX Event No. TRANSACTION DETAILS CASH 100000 0 0 0 0 0 0 0 16340 13660 0 0 100000 - 16340 - 13660 - 15000 189550 -19500 15000 0 0 0 189550 0 0 0 189550 -19500 1500 0 1500 8400 0 1 Contribution of Share Capital & Retained Earnings at the beg of the yr 2 Inventory Purchased - Pro Shop 3 Inventory Purchased - Liquor 4 Purchased Fixtures & Glassware 5 Sales 6 Rent for Pro-Shop Lounge 7 Prepaid Rent Recorded 1500 8 New Lounge Fixtures 9 Pre-Shop Goods for Re-sales 10 Liquor for Re-Sale 12 Salaries and Wages 103500 13 Purchases on Credit 14 Receipts from sold but unused chit bks 15 Income Receivable for 4 Matches & 150 Lessons 15600 16 Cost of Goods Sold 17 Depreciation of Fixtures and Glass ware 4331.25 18 Provision for tax 19 NP/NL for the FY -8400 -26650 -14400 - 103500 26650 14400 0 0 0 19500 - 1500 0 0 0 103500 0 0 0 43250 4331.25 10625.625 2000 4200 6200 0 0 -650 15600 650 0 -103500 0 -650 15600 -43250 -4331.25 -10625.625 15600 -43250 0 0 -4331.25 10625.625 0 24793.125 72100 15600 1500 29800 27600 6200 10625.625 650 100000 204500 179706.875 24793.125 -4331.25 142268.75 24793.125 142268.75 CHECK
Answer & Explanation
Solved by verified expert
