Question

Sampa Ltd has assembled the following data for the year ended 30 June 2019: (a) Payment...

Sampa Ltd has assembled the following data for the year ended 30 June 2019:
(a) Payment of cash dividend, $27,600. (b) Depreciation expense, $19,900. (c) Cash balance 30 June 2018 $58 000; 30 June 2019 $226 900. (d) Cash receipt from sale of non-current asset, $160,000. (e) Cash receipt from issue of preference shares, 105,000. (f) Accounts Receivable of $14 000 at 30 June 2018 and $24 000 at 30 June 2019. Sales Revenues were $800 000 for 2019. (g) Accounts Payable of $34,500 at 30 June 2018 and $22,500 at 30 June 2019 and Inventory of $22,500 at 30 June 2018 and $30,000 at 30 June 2019. Cost of sales was $420,000 for 2019. (h) Purchase of non-current assets, $280,000 cash. (i) Amortisation expense, $15,000. (j) Interest expense and payments, $10,000. (k) Payment of salaries, $62,000. (l) Payment of loan payable, $50,000. (m) Bad debt expense, $5,000. (n) Payment of tax to the tax office, $17,000

Required:
Prepare Sampa Ltd’s cash flow statement for the year ended 30 June 2019. Use the direct method for cash flows from operating activities.

Business   Accounting   
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Answer #1
Cash flow from operating activities
Cash collection from customer 790000
Cash paid to supplier (420000+12000-7500-39900) -384600
Cash paid for interest -10000
Cash paid for salaries -62000
Payment of tax to the tax office -17000
Net cash provided by operating activities 316400
Cash flow from investing activities
Purchase of non current assets -280000
Cash receipt from sale of non-current asset 160000
Net cash used by investing activities -120000
Cash flow from financing activities
Payment of loan payable -50000
Cash receipt from issue of preference shares 105000
Dividend paid -27600
Net cash flow from financing activities 27400
Beginning Cash 58000
Ending Cash 226900
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