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Prepare the statement of cash flows for Tele Ltd

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Reference no: EM133028935

Problem - The comparative statements of financial position of Tele Ltd as at 30 June 2019 and 2020, the statement of profit or loss and other comprehensive income and the statement of changes in equity for the year ended 30 June 2020 are shown below.

Additional information -

1. Other expenses include $27,000 depreciation expense on plant and insurance expense of 54,000.

2. All sales and purchases of inventory are on credit.

3. Plant which had cost $30,000 and had a carrying amount of $17,000 was sold for $26,000 cash.

4. Ignore taxes.

Required - Prepare the statement of cash flows for Tele Ltd for the year ended 30 June 2020 using the direct method.

Reference no: EM133028935

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