A company reported the following items for the recent financial year (in T€): Net income: 60,000 Dividends paid: 4,000 Increase in accounts receivable: 8,000 Increase in accounts payable: 4,000 Decrease in inventory: 1,500 Gain on the sale of land: 2,000 Proceeds from the sale of land: 10,000 Purchase of long-lived assets: 4,000 Depreciation expense: 5,000 Issuance of ordinary shares: 50,000 The position "cash and cash equivalents" on 1 January amounted to T€ 750,000. Required: Prepare a complete Statement of Cash Flows for the period ending 31 December in accordance with IAS 7. Use the following template (table) to document/ enter your solution.
A company reported the following items for the recent financial year (in T€): Net income: 60,000 Dividends paid: 4,000 Increase in accounts receivable: 8,000 Increase in accounts payable: 4,000 Decrease in inventory: 1,500 Gain on the sale of land: 2,000 Proceeds from the sale of land: 10,000 Purchase of long-lived assets: 4,000 Depreciation expense: 5,000 Issuance of ordinary shares: 50,000 The position "cash and cash equivalents" on 1 January amounted to T€ 750,000. Required: Prepare a complete Statement of Cash Flows for the period ending 31 December in accordance with IAS 7. Use the following template (table) to document/ enter your solution.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter14: Statement Of Cash Flows (cashflow)
Section: Chapter Questions
Problem 1R: The comparative balance sheet of Prime Sports Gear, Inc., at December 31, the end of the fiscal...
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