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Cash flow statements:
Required:
Problem : Prepare a cash flow statement for Anna's Apples Ltd using the information below. Use the indirect method for operating cash flows.
Net profit for year ended 30 June 2017.
30 June 2017
1 July 2016
Cash
?
$ 20,000
Inventory
$ 30,000
$ 40,000
Accounts Payable
$ 15,000
Unearned Revenue
$ 12,000
Prepaid Insurance
$ 18,000
$ 33,000
Goodwill
$ 50,000
$ 0
Equipment
$ 300,000
$ 450,000
Acc Dep'n Equipment
$ 150,000
$ 160,000
Loan Payable
$ 100,000
During the year equipment with a cost of $150,000 and accumulated depreciation of $50,000 was sold for $115,000. No other purchases or sales of equipment was made during the year. During the year another business was for cash
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