Reference no: EM132985810
Problem 1: Make cash flow statement for 30th June 2021 using the Indirect method from below data.
Following was the net change in the balance sheet items between the two financial years.
Net income from operation $200,000
Depreciation on equipment $60,000
Loss on sale of car $15,000
Increase in Account receivable $2,100
Decrease in Inventory $ 3,000
Decrease in Account payable $28,000
Purchase of equipment $300,000
Proceeds from sale of car $ 40,000
Loan received from bank $200,000
Interest paid $110,000
Cash at 1st July 2020 $101,000
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