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What are the cash flows from investing activities for year

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Reference no: EM132621904

Question - Cash flow statement

Question 1 - The following information has been taken from the Balance Sheet of Maggies Mugs.

Machinery

2019 - $180,000

2020- $310,000

Accumulated Depreciation -Machinery

2019 - ($95,000)

2020 - ($132,000)

Investments

2019 - $135,000

2020 - $225,000

Additional Information:

(a) During the year Machinery with a historic cost of $60,000 was sold for $20,000 Cash. The company made a gain on disposal of this asset of $10,000.

(b) Investments with a cost of $30,000 was sold for $45,000 Cash.

Required - What are the Cash Flows from Investing Activities for the Year ended 30 June 2020?

Question 2 - The following information has been taken from the Balance Sheet of Mike's Mics:

Bank Loan

2019 - $30 000

2020 -$70 000

Share Capital

2019 - $110 000

2020 - $130 000

Retained Profits

2019 - $140 000

2020 - $185 000

Additional information

The business made a profit for the year of $100,000.

Required - What are the Cash Flows from Financing Activities for the Year ended 30 June 2020?

Reference no: EM132621904

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