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The following information is provided in respect of the business of Classic Collectors for the year ended the 30th of June 2022.
| | | $ |
| Sales on Credit | | 220,000 |
| Expenses paid in cash | | 72,230 |
| Receipts from customers | | 200,540 |
| Payment to suppliers | | 36,500 |
| Payment to employees | | 85,300 |
| Rent received | | 31,800 |
| Proceeds from borrowings | | 30,000 |
| GST paid | | 6,100 |
| Depreciation on office equipment | | 8,650 |
| Cash paid for office equipment | | 25,000 |
| Proceeds from sale of property | | 150,000 |
| Repayment of loan | | 125,000 |
| Cash contribution from owner | | 10,000 |
| Cash taken by owner for personal use | | 40,000 |
| Cash balance at 1 July 2022 | | 24,810 |
Required:
Prepare a Statement of Cash flows from the relevant information provided (10 Marks)
Answer & Explanation
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