Reference no: EM132559643
Question - The information below relates to Changi Enterprises for the year ended 30 June 2019.
Cash-at-bank balance 1 July 2018 ($22,000)
Cash paid to suppliers 192,200
Cash receipts from customers 294,000
Payments for wages and expenses 25,000
Bank loan received 6,600
Taxes paid 20,000
Depreciation of equipment 35,600
Interest received 20,500
Cash received from sale of investments 55,000
Cash paid to purchase equipment 40,000
Issued shares in exchange for block of land 100,000
Dividends paid 29,000
Interest paid 30,000
Net profit 46,000
Loss on sale of equipment 63,000
Required -
1. Prepare Changi's Statement of Cash Flow at 30 June 2019.
2. Discuss and comment on Changi's cash flow statement, particularly the information that it conveys and its usefulness.
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