1. Business
  2. Accounting
  3. a summarised comparative statement of financial position of csl ltd...

Question: a summarised comparative statement of financial position of csl ltd...

Question details

A summarised comparative statement of financial position of CSL Ltd is presented below.

 

30-Jun-21

30-Jun-20

Cash

$132,000

$90,000

Trade Receivable

$97,000

$135,000

Inventories

$87,000

$93,000

Prepayments

$15,000

$18,000

Land

$135,000

$135,000

Plant

$570,000

$450,000

Accumulated Depreciation

($105,000)

($85,000)

 

$931,500

$835,500

Trade  Payable

$67,500

$78,000

Long-term Borrowings

$255,000

$300,000

Share Capital

$420,000

$345,000

Retained Earnings

$189,000

$112,500

 

$621,000

$835,500

 

Additional information

  • There were no disposals of land or plant during the year.
  • A $100 ,000 borrowing was settled through the issue of ordinary shares. There were no other repayments of borrowings.
  • Profit for the year was $90 ,000, interest expense was $40,000, and income tax paid was $25,000. There were no items of other comprehensive income.
  • A $13,500 dividend was paid during the year.
  • Sales revenue for the year was $900 ,000. There was no other revenue.

 

Required

Prepare the operating activities section of the statement of cash flows using the indirect method of presentation for the year ended 30 June 2021.

 

can you please reply me as much as possible.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution