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Prepare a statement of cash flows using the direct method

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Statement of cash flows for sole trader, direct method

Kim Khan has been in business as a sole trader for the past 5 years. The comparative statements of financial position for the years 2016 and 2017 and a summarised income statement for the year ended 30 June 2020 are shown below. Additional information 1. Kim had contributed capital during the year for $6000 cash and had made cash withdrawals during the year. The bank overdraft was considered to be part of the entity's everyday cash management activities.

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Problem 1: Prepare a statement of cash flows using the direct method for Kim Khan's business for the year ended 30 June 2020.

Reference no: EM132945099

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