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Working

ref. $ $
Cash flows from operating activities
Cash receipts from customers (W-1) 6,390
Cash paid for merchandise (W-6) (4,070)
Cash paid for selling / admn. Expenses (930)
Cash paid for tax (W-7) (550)
(5,550)
Net cash provided by operating activities 840

Cash flows from investing activities


Cash received from sale of investment (W-5) 240
Purchase of plant assets (W-3) (190)
Net cash provided by investing activities 50

Cash flows from financing activities


Issuance of common stock 160
Repayment of bonds (W-9) (100)
Cash dividends (260)

Net cash used by financing activities (200)

Net increase in cash & cash equivalents 690


Add: Balance B/Fwd (Opening) 1,130
Balance C/Fwd (Closing) 1,820
$930 selling and admin expenses - 40 depreciation

Please correct this narration in your answer

Please correct this narration in your answer


W1: Accounts receivable
Bal. B/D 1280
Sales 6840

Total 8120

Cash received (Balancing) 6390

Bal. C/D 1730


Total 1730

W2: Inventory
Bal. B/D 1870
Purchases (Accounts payable) balancing 4350 To accounts payable

Total 6220

Cost of sales 4630

Bal. C/D 1590


Total 6220

W3: Plant assets


Bal. B/D 1690
Purchased in exchange for stock 60
Purchases (Cash) - Balancing 190

Total 1940

Bal. C/D 1940


Total 1940

W4: Accumulated depreciation


Bal. B/D 1180
Depreciation charge (P&L) 40 Add back in selling and admin. Expenses

Total 1220
Bal. C/D 1220
Total 1220

W5: Investments (HTM)


Bal. B/D 1450

Total 1450

Disposal (Cost) 150 Disposal (Cost) 150


Add: gain on sale 90
Sales proceeds 240
Bal. C/D 1300
Total 1450

W6: Accounts payable


Bal. B/D 920
Purchases 4350

Total 5270

Payment (Balancing) 4070

Bal. C/D 1200


Total 5270

W7: Accrued liabilities


Bal. B/D 230
Tax charge (P&L) 550

Total 780

Cash paid for tax (balancing) 590

Bal. C/D 190


Total 780

W8: Bond payable


Bal. B/D 1530
Total 1530

Repayment (Cash) 100

Bal. C/D 1430


Total 1530

W9: Common Stock


Bal. B/D 1710
Exchanged for plant 60
Balancing (Cash issue) 160

Total 1930

Bal. C/D 1930


Total 1930

W10: Retained earnings


Bal. B/D 1850
Profit after tax 820

Total 2670

Dividends paid (Cash) 260

Bal. C/D 2410


Total 2670
and admin. Expenses
Sales of investment

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