ACCT 1002 Accounting 1B Week 7 Lecture Handout with solutions PDF

ACCT 1002 Accounting 1B Week 7 Lecture Handout with solutions PDF

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
E18-14 Preparing the cash flow statement – indirect method (adapted) The income statement and additional data of Capitol Properties Ltd follow: Additional Data: a. Acquisition of non-current assets is $116,000. Of this amount, $101,000 is paid in cash and $15,000 by signing a bill payable. b. Proceeds from sale of land total $24,000 c. Proceeds from issue of ordinary shares total $30,000 d. payment of long-term bill payable is $15,000 e. Payment of dividends is $11,000 f. From the balance sheet: 20X2 20X1 Current Assets: $ $ Cash 32,000 20,000 Accounts Receivable 43,000 58,000 Inventory 92,000 85,000 Current Liabilities: Accounts Payable 35,000 22,000 Accrued Liabilities 13,000 21,000 Required: Prepare Capitol Properties Ltd’s cash flow statement for the year ended 30 June 20X2, using the indirect method. Include a separate section for non-cash financing and investing activities.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
(20-30 min.) E 18-14 Req. 1 Capitol Properties Ltd Cash Flow Statement For the Year Ended 30 June 20X2
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

ACCT 1002 Accounting 1B Week 7 Lecture Handout with solutions PDF

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online