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Prepare a statement of cash flows from investing activities

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Reference no: EM132660010

Rose, Emma and Sara formed a partnership to sell products made from organic ingredients. They have been operating for one year. The bank balance at the end of the year is $41 000. A summary of business transactions is as follow

MPA105: Financial Accounting and Reporting

Sales to customers 256 000

Receipts from customers 199 000

Payments for inventory 103 000

Payments for electricity, telephone, rent and insurance. 5 000

Purchase of a motor vehicle 30 000

Drawings 50 000

Payment of interest 8 000

Loan proceeds 20 000

Interest received 1 000

Income taxes paid 3 000

Equity Injection 20 000

Required

Problem 1: Prepare a statement of cash flows from:

  1. Operating activities
  2. Investing activities
  3. Financing activities

Reference no: EM132660010

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