Wilko Ltd had cash and cash equivalents at 1 July 2016 of $100 000. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. Received $380 000 cash for customer accounts 2. Invested $100 000 cash on the short-term money market 3. Sold for $40 000 cash a plant asset with a carrying amount of $30 000 4. Issued ordinary shares for $120 000 cash 5. Cash payments for suppliers accounts $250 000 6. Purchased a plant asset for $87 000; $27 000 in cash and $60 000 vendor loan 7. Insurance expense shown in the income statement is $14000. At the end of the year the balance sheet shows prepaid insurance expense of $7000. There was a prepaid insurance expense of $6000 at the beginning of the year. 8. Exchanged 10 000 shares for land with a fair value of $100 000 9. Received a $40 000 dividend in cash 10. Paid fixed-term loan principal of $80 000 and interest of $8000 11. Dividend paid during the period $20000 12. Borrowed $30 000 with a 6-month loan payable Required Prepare the statement of cash flows of Wilko Ltd for the year to 30 June 2017.
Wilko Ltd had cash and cash equivalents at 1 July 2016 of $100 000. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. Received $380 000 cash for customer accounts 2. Invested $100 000 cash on the short-term money market 3. Sold for $40 000 cash a plant asset with a carrying amount of $30 000 4. Issued ordinary shares for $120 000 cash 5. Cash payments for suppliers accounts $250 000 6. Purchased a plant asset for $87 000; $27 000 in cash and $60 000 vendor loan 7. Insurance expense shown in the income statement is $14000. At the end of the year the balance sheet shows prepaid insurance expense of $7000. There was a prepaid insurance expense of $6000 at the beginning of the year. 8. Exchanged 10 000 shares for land with a fair value of $100 000 9. Received a $40 000 dividend in cash 10. Paid fixed-term loan principal of $80 000 and interest of $8000 11. Dividend paid during the period $20000 12. Borrowed $30 000 with a 6-month loan payable Required Prepare the statement of cash flows of Wilko Ltd for the year to 30 June 2017.
Wilko Ltd had cash and cash equivalents at 1 July 2016 of $100 000. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. Received $380 000 cash for customer accounts 2. Invested $100 000 cash on the short-term money market 3. Sold for $40 000 cash a plant asset with a carrying amount of $30 000 4. Issued ordinary shares for $120 000 cash 5. Cash payments for suppliers accounts $250 000 6. Purchased a plant asset for $87 000; $27 000 in cash and $60 000 vendor loan 7. Insurance expense shown in the income statement is $14000. At the end of the year the balance sheet shows prepaid insurance expense of $7000. There was a prepaid insurance expense of $6000 at the beginning of the year. 8. Exchanged 10 000 shares for land with a fair value of $100 000 9. Received a $40 000 dividend in cash 10. Paid fixed-term loan principal of $80 000 and interest of $8000 11. Dividend paid during the period $20000 12. Borrowed $30 000 with a 6-month loan payable Required Prepare the statement of cash flows of Wilko Ltd for the year to 30 June 2017.
Wilko Ltd had cash and cash equivalents at 1 July 2016 of $100 000. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. Received $380 000 cash for customer accounts 2. Invested $100 000 cash on the short-term money market 3. Sold for $40 000 cash a plant asset with a carrying amount of $30 000 4. Issued ordinary shares for $120 000 cash 5. Cash payments for suppliers accounts $250 000 6. Purchased a plant asset for $87 000; $27 000 in cash and $60 000 vendor loan 7. Insurance expense shown in the income statement is $14000. At the end of the year the balance sheet shows prepaid insurance expense of $7000. There was a prepaid insurance expense of $6000 at the beginning of the year. 8. Exchanged 10 000 shares for land with a fair value of $100 000 9. Received a $40 000 dividend in cash 10. Paid fixed-term loan principal of $80 000 and interest of $8000 11. Dividend paid during the period $20000 12. Borrowed $30 000 with a 6-month loan payable Required Prepare the statement of cash flows of Wilko Ltd for the year to 30 June 2017.
Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.
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