ASSET 2022 2021 CASH 260,000 200,000 TRADE RECEIVABLE 400,000 300,000 INVENTORIES 360,000 400,000 LAND 3,000,000 2,000,000 BUILDING 3,000,000 3,000,000 EQUIPMENT 80,000 150,000 ACCUMULATED DEPRECIATION -EQUIPMENT (30,000) (70,000) TOTAL 7,070,000 5,980,000 LIABILITIES & EQUITY TRADE PAYABLE 240,000 200,000 BOND PAYABLE 1,200,000 2,000,000 COMMON SHARES 2,400,000 1,200,000 RETAINED EARNING 3,230,000 2,580,000 TOTAL 7,070,000 5,980,000 ADDITIONAL INFORMATION PROFIT FOR 2022 700,000 DIVIDEND PAID IN 2022 50,000 PROCEEDS EQUIPMENT SALES 30,000 BOOK VALUE EQUIPMENT (PRIOR TO SALE) 20,000 DEPRECIATION EXPENSE FOR 2022 10,000 # Land and sales of equipment via cash Requirement : prepare a statement of cash flows for the year ended 31 December 2022 using INDIRECT METHOD
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ASSET |
2022 |
2021 |
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CASH |
260,000 |
200,000 |
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TRADE RECEIVABLE |
400,000 |
300,000 |
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INVENTORIES |
360,000 |
400,000 |
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LAND |
3,000,000 |
2,000,000 |
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BUILDING |
3,000,000 |
3,000,000 |
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EQUIPMENT |
80,000 |
150,000 |
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|
(30,000) |
(70,000) |
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TOTAL |
7,070,000 |
5,980,000 |
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LIABILITIES & EQUITY |
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TRADE PAYABLE |
240,000 |
200,000 |
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BOND PAYABLE |
1,200,000 |
2,000,000 |
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COMMON SHARES |
2,400,000 |
1,200,000 |
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|
|
3,230,000 |
2,580,000 |
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TOTAL |
7,070,000 |
5,980,000 |
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ADDITIONAL INFORMATION |
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PROFIT FOR 2022 |
700,000 |
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DIVIDEND PAID IN 2022 |
50,000 |
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PROCEEDS EQUIPMENT SALES |
30,000 |
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BOOK VALUE EQUIPMENT (PRIOR TO SALE) |
20,000 |
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DEPRECIATION EXPENSE FOR 2022 |
10,000 |
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# Land and sales of equipment via cash |
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Requirement : |
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prepare a statement of cash flows for the year ended 31 December 2022 using INDIRECT METHOD |
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