Q#2-10 points The company was established in 1 January 20X5, the owner's capital consisted of...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Q#2-10 points The company was established in 1 January 20X5, the owner's capital consisted of only cash contribution 200000$ and 10000$ by computers. We bought necessary equipment (2 cars each by 6000$). The company hired employees with monthly salary 10000$ including taxes and social payments. There was rented an office with monthly fee 1000$. During a week company purchased goods amounting 60000$. Prior to payment there was found out some damage, and our company claimed for return of 5000$ inventory. Return was accepted and the supplier offered a 10% discount in case the company paid by cash in 5 days. Our company doesn't pay within discounted period. Within a week, we make sales 90000$. The customer pays 45000$ by cash. We offered a customer 10% discount if he pays the rest amount within 3 days by cash and he pays. Depreciation expenses for the end of the month for cars were 2000$, for computers 800$. Company decided to change 1 of the cars for truck and pays on it additionally 1000$. At the end of the month company paid immediately for utility expenses 200$, paid 20% of trade payables. Salaries aren't yet paid out. Ending inventory 2000. Required: Prepare Cash flow statement using Indirect method
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
