LECTURE 7 Workshop question cash flow(1) copy.docx

LECTURE 7 Workshop question cash flow(1) copy.docx -...

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LECTURE 7 WORKSHOP QUESTION The following information has been extracted from the accounting records of Albert Clarence for the year ended 30 June, 2013: Summary of Cash payments during the year Summary of Cash received during the year Accounts payable 11,225 Accounts receivable 31,470 Wages 8,000 Revenue 10,000 Cash expenses 3,860 Capital contributed 15,000 Owners drawings 7,535 Proceeds from borrowings 11,640 Payment for office furniture 13,600 Details of cash balances Payment for delivery vehicles 26,835 Cash balance at start of year 260 Cash balance at end of year-- overdraft (2,685) Summary Income Statement figures for the year: Total Revenue $ 26,030 ; Total operating expenses $20,000 Net Profit: $6,030 Required: (a) Prepare a Cash Flow Statement for Albert Clarence for the year ended 30 June
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