Solution-Prepare the statement of cash flow

Prepare the statement of cash flow

Assignment Help Cost Accounting

Reference no: EM132992336

Problem - The following are transactions of Marks and Company for year ending 30 June 2021:

Description $

Proceeds received from Bank loan 50,000

Proceeds of share issue 100,000

Payment for purchase of motor vehicle 90,000

Depreciation expense 22,000

Dividends paid 10,000

Sales revenue 800,500

Loss on sale of equipment 5,000

Proceeds from sale of equipment 40,000

Commission received in cash 3,050

Dividends received from investment 4,500

Employee salaries paid 355,000

Depreciation expense 13,600

Cash paid to suppliers 291,010

Cash collected from customers 800,500

Opening cash balance, 1 July 2020 40,000

Required -

a) Prepare the Statement of Cash flow for the end of the financial year, 30 June 2021 for Marks and Company.

b) Discuss and explain how the Statement of Cash Flow prepared in part a) is useful to Marks and Company?

Reference no: EM132992336

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Prepare the statement of cash flow

Reference no: EM132992336

Reference no: EM132992336

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