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Prepare cash flow statement for june

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Problem 1: Prepare 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

Reference no: EM132985525

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