You are working on the cash flow statement for the 30 June 2021 year. You were told that sales for the year were $113,200 and gross profit was $50,400. Total expenses were $46,000. This was made up of: Depreciation $4,100 Interest $1,500 Wages $38,400 Other $2,000 Of the net income, taxation was 30%. You are also provided with an extract of the 30 June 2021 Balance Sheet account information 2020 2021 Cash 3,800 10,200 Accounts receivable 28,400 20,000 Inventory 51,200 40,000 Accounts payable 20,000 15,000 Wages payable 20,400 22,400 Tax payable 4,000 4,800 Show how much cash was: 1) Received from sales - 2) Paid to employees - 3) Paid to suppliers -
ou are the accountant for JJ Services. You are working on the cash flow statement for the 30 June 2021 year.
You were told that sales for the year were $113,200 and gross profit was $50,400.
Total expenses were $46,000. This was made up of:
Interest $1,500
Wages $38,400
Other $2,000
Of the net income,
You are also provided with an extract of the 30 June 2021 Balance Sheet account information
|
2020 |
2021 |
|
|
Cash |
3,800 |
10,200 |
|
|
28,400 |
20,000 |
|
Inventory |
51,200 |
40,000 |
|
Accounts payable |
20,000 |
15,000 |
|
Wages payable |
20,400 |
22,400 |
|
Tax payable |
4,000 |
4,800 |
Show how much cash was:
1) Received from sales -
2) Paid to employees -
3) Paid to suppliers -
4) Paid for tax -
5) Any other operating expense not included above -
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