For a cash flow to be done we need a trial balance that was provided ,from which to do an income statement and a balance sheet and finally a cash flow statement. I've already done them all 3 ,but for my assurance,I asked you to do a cash flow statement for me in order to compare my answer/cash flow statement with yours.In consequence, you don't need any previous years to compare anything. Now I am asking again, can you please help me with a statement of cash flow(task 2b) using above information?Thanks Required:a) Prepare a Statement of Profit & Loss and Statement of Financial Position.b) Prepare a Statement of Cash Flow. Task 2:Lucky House LtdTrial BalanceAs at 30 September 2020AccountDebitCreditCash at Bank5,850Capital Account15,000Machine8,100Raw Materials2,655StationeryAccounts Payable2506,545Rent950Business Insurance38Prepayments1,362Sales Income17,550Cost of Goods Sold11,345Accounts Receivable4,500DrawingsTelephone4,00045DepreciationAccumulated Depreciation135135Total39,23039,230

The statement of cash flow (CFS) gives information regarding the transactions related to cash taken…

Answered: Task 2: Lucky House Ltd Trial Balance…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 3MC

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For a cash flow to be done we need a trial balance that was provided ,from which to do an income statement and a balance sheet and finally a cash flow statement. I've already done them all 3 ,but for my assurance,I asked you to do a cash flow statement for me in order to compare my answer/cash flow statement with yours. In consequence, you don't need any previous years to compare anything. Now I am asking again, can you please help me with a statement of cash flow(task 2b) using above information? Thanks

Required:
a) Prepare a Statement of Profit & Loss and Statement of Financial Position.
b) Prepare a Statement of Cash Flow.

Task 2:
Lucky House Ltd
Trial Balance
As at 30 September 2020
Account
Debit
Credit
Cash at Bank
5,850
Capital Account
15,000
Machine
8,100
Raw Materials
2,655
Stationery
Accounts Payable
250
6,545
Rent
950
Business Insurance
38
Prepayments
1,362
Sales Income
17,550
Cost of Goods Sold
11,345
Accounts Receivable
4,500
Drawings
Telephone
4,000
45
Depreciation
Accumulated Depreciation
135
135
Total
39,230
39,230

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