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need help urgently cash flow direct and indirect methods

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › need help urgently cash flow direct and indirect methods

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  • March 13, 2017 at 5:26 pm #378070
    freddy51
    Member
    • Topics: 3
    • Replies: 0
    • ☆

    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: $298 800,00

    Current 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: $220 000,00

    Equity:
    Capital $60 000,00
    Profit $18 800,00
    Total equity: $78 800,00

    Total 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 base

    Need to be prepared by both methods direct and indirect, please heelp

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