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Explain by preparing a correctly classified cash flow

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Reference no: EM132931085

The following transactions were undertaken by Paradise Juices Limited during the financial year ended 30th June, 2020.

1. Issued 4% debentures for $1,000,000.

2. Sold a used truck for $300,000 with a carrying amount of $100,000.

3. Purchase of land for future expansion of the business for $500,000 cash.

4. Paid off a $400,000 long term loan plus interest of 40,000.

5. Paid a cash dividend of $200,000.

6. Purchased a new truck paying $60,000 cash and signing a loan for $120,000.

7. Purchased shares in Tropical Juice Limited to be held as long term investment for $220,000 cash.

8. Issued ordinary shares for cash $4,000,000.

9. Purchased shares in Salty Juice Limited to be held as an investment for $600,000 cash.

10. Sold a long term government bond with a carrying amount of $200,000 for $250,000 including accrued interest of $20,000.

REQUIRED:

Question 1: Explain by preparing a correctly classified cash flow statement of Paradise Juices Limited for the year ended 30th June, 2020.

Reference no: EM132931085

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