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Problem 1: Cash Flow Statement
Flushed With Success Pty Ltd is a plumbing business, owned and operated by Dwayne "The Plug" Johnson. Dwayne has provided you with the following financial information to assist with the preparation of a Cash Flow Statement.
ASSETS Currant Assets
2019
2018
Cash on Hand
$14 000
$4 800
Cash at Bank
42 800
18 400
Accounts Receivable (net)
23 200
19 600
Inventory
124 000
132 000
Prepaid Expenses
14000
5218 000
13200
5188000
Nan-Current Assets
Plant & Equipment
356 000
304000
less Acc. Depreciation
(182 400)
173 600
(163 200)
140 800
Land
52 000
92 000
Total Assets
443 600
420 800
LIABILITIES
Current Liabilities
Bank Overdraft
8 000
Accounts Payable
25 600
30 000
Expenses Payable
8 400
12 400
Tex Payable
I611412
58 800
22 400
64 800
Non-Current Liabilities
Loan
12 003
Total Liabilities
70 800
64 ROO
Net Assets
5372 800
4356 OW
EQUITY
Share Capital
176 000
168 000
Retained Earnings
196 800
188 000
p372 800
,5356000
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