Forums › ACCA Forums › ACCA FR Financial Reporting Forums › need help urgently cash flow direct and indirect methods
- This topic has 0 replies, 1 voice, and was last updated 7 years ago by freddy51.
- AuthorPosts
- March 13, 2017 at 5:26 pm #378070
Current assets:
Cash $100 000,00
A/R $35 000,00
Inventory $65 000,00
Prepaid rent $10 000,00 (4 month in advance)
Non-current assets:
Building $40 000,00
Accumulated depr -$500,00
Equipment $50 000,00
Accumulated depr -$700,00
Total assets: $298 800,00Current liabilities:
Trade payables $60 000,00
Short-term loan $120 000,00
Unearned revenue $40 000,00 (4 month contract)
Non-current liabilities: $0,00
Total liabilities: $220 000,00Equity:
Capital $60 000,00
Profit $18 800,00
Total equity: $78 800,00Total liabilities&equity $298 800,00
The company received half of the receivables
The company returned 60% of the payables
Bought a car by the price 10,000$ on credit
Depreciation for the car is 200$ monthly
Sold 80% of inventory for 110,000$, customers paid 80% in cash
Accrued salary expenses: 15,000$
Accrued utility expenses:1,200$
Recognized the rent expense for the current month
Recognized the appropriate part of unearned revenue on the base of contract
Accrued Profit tax is 20%
The appropriate part of credit is paid out on monthly base 10,000$
Interest expense accrued: 1,000$
Depreciation for the bulding and equipment incurred on monthly baseNeed to be prepared by both methods direct and indirect, please heelp
- AuthorPosts
- You must be logged in to reply to this topic.