Question

The Statement of Financial Position for Cush Limited for the year to 30 September 2019 is as follows:

Non-Current Assets:
		2019	2018
Land cost		300,000	200,000
Buildings cost		450,000	400,000
Buildings Accumulated Depn		(215,000)	(120,000)
		535,000	480,000
Current Assets
Inventory		25,000	22,000
Trade Receivables		36,000	39,000
Cash & Bank		15,000	17,000
		76,000	78,000
Total Assets		611,000	558,000
Equity		2019	2018
Issued Share Capital		15,000	10,000
Share Premium		80,000	10,000
Retained Earnings		359,000	387,000
		454,000	407,000
Non-current liabilities
Debentures		120,000	100,000
Current Liabilities:		2019	2018
Trade Payables		23,000	10,000
Taxation		12,000	16,000
Bank overdraft		2,000	25,000
		37,000	51,000
Total Equity & Liabilities		611,000	558,000

What is the opening Cash & Cash Equivalents figure for inclusion in the Statement of Cash Flows for the year ending 30 September 2019?

Answer 1

Answer:

Opening cash and cash equivalents = $ 17,000

Explanation:

To find the opening cash, we need to check the Balance Sheet.

In case of any doubt, please feel free to comment.