Q1. Khaled Co is in Export business operating from Jeddah for the last 10 years

Question

Q1. Khaled Co is in Export business operating from Jeddah for the last 10 years successfully Account of Khaled, prepare Cash Flow Statement for the From the following summary of Cash year ended 31st March 2017 in accordance with using the direct method. The company does not have any cash equivalents. (4 Points) Summary (Cash Account) 31-3-2017 Amount Particulars Particulars Bal 1.4.2016 Equity Shares Receipt from Customers Sale of Fixed Assets Amount 2000 200 200 50 Payments to Suppliers 300 Purchase of Fixed Asset 2800 Overhead Expenses 100 Wages & Salaries Taxation Dividends Repayment of long term Loans Balance cid 250 50 300 150

Explanation / Answer

Cash Flow Statement Cash flows from operating activities Receipts from customers          2,800 Payment to suppliers        (2,000) Overhead expenses           (200) Wages and salaries           (100) Taxation           (250) Cash flows from operating activities             250 Cash flow from investing activities Sale of fixed assets             100 Purchase of fixed assets           (200) Cash flow from investing activities           (100) Cash flow from financing activities Issue of equity shares             300 Dividends distributed             (50) Repayment of long term loans           (300) Cash flow from financing activities             (50) Net increase in cash and cash equivalents             100 Cash & cash equivalents at beginning of period 50 Cash & cash equivalents at END of period             150

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