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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › incomplete records
a business’s bank balance increased by 750k during the last year. during the same period, it issued 1-million-dollar shares and repaid a loan of 750k. it purchased NCA for 200k and charged dep 100k. working capital increased by 575k
what was the profit for the year?
how to solve this question?
can we solve this question by putting it on the equation of closing capital=opening capital+ additional capital+ profit- loss- drawing .????
No.
This question is testing your knowledge of Statement of Cash Flows. We know the change in the bank balance, we know the investing and financing activities and so the ‘missing figure’ is the cash flow from operating activities.