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General Journal Date Details Debit ($) Credit ($) Q4(a) FIRE IT UP PTY LTD CASH FLOW STATEMENT FOR THE YEAR ENDING 30 JUNE 2018 $ $ Cash Flows from Operating Activities Receipts from customers...

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General Journal
    Date
    Details
    Debit ($)
    Credit ($)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
Q4(a)
FIRE IT UP PTY LTD
CASH FLOW STATEMENT
FOR THE YEAR ENDING 30 JUNE 2018
    
    $
    
    $
    Cash Flows from Operating Activities
    
    
    
    Receipts from customers
    
    
    
    Payments to suppliers & employees
    
    
    
    Cash generated by operations
    
    
    
    Interest received
    
    
    
    Interest paid
    
    
    
    Income tax paid
    
    
    
    
    
    
    
    Cash Flows from Investing Activities
    
    
    
    Proceeds from sale of land
    
    
    
    Payment for Store Fittings
    
    
    
    
    
    
    
    Cash Flows from Financing Activities
    
    
    
    Proceeds from loan
    
    
    
    Proceeds from share issue
    
    
    
    Dividends
    
    
    
    
    
    
    
    Net increase / decrease in cash held
    
    
    
    Cash at the beginning of the yea
    
    
    
    Cash at the end of the yea
    
    
    
ALL WORKINGS MUST BE PROVIDED, OR THE CASH FLOW STATEMENT WILL RECEIVE NO MARKS
(Insert any additional pages as required)
Q4(b)
Reference List
Please list any references used to complete this assignment.
Harvard referencing principles must be followed.
Answered Same Day Nov 09, 2020

Solution

Aarti J answered on Nov 11 2020
154 Votes
General Journal
    
    
    
    
    
    
    
    Date
    Details
    Debit ($)
    Credit ($)
    1
    Salary expense
    4260
    Â 
    Â 
     Salaries payable
    Â 
    4260
    Â 
    (Salaries which has been not paid)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    2
    Depreciation expense - Nursery equipment
    7000
    Â 
    Â 
    Accumulated depreciation - Nursery equipment
    Â 
    7000
    Â 
    (Depreciation expense for Nursery equipment)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    Depreciation expense - Delivery van
    12500
    Â 
    Â 
     Accumulated depreciation - Delivery van
    Â 
    12500
    Â 
    (Depreciation expense of Delivery van)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    3
    Drawings
    350
    Â 
    Â 
     Administration expense
    Â 
    350
    Â 
    (Reversing the entry, as personal expenses are considered as drawings)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    4
    Office supplies expense
    3793
    Â 
    Â 
     Office supplies
    Â 
    3793
    Â 
    (Office supplies used)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    5
    Insurance expense
    4320
    Â 
    Â 
     Prepaid insurance
    Â 
    4320
    Â 
    (Insurance expired)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    6
    Sales revenue
    35800
    Â 
    Â 
     Unearned revenue
    Â 
    35800
    Â 
    (Reversing the revenue earned)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    7
    Bad debt expense
    1275
    Â 
    Â 
     Allowance for bad debts
    Â 
    1275
    Â 
    (Bad debt expense)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    8
    Electricity expense
    1080
    Â 
    Â 
     Accounts payable
    Â 
    1080
    Â 
    (Estimated electricity bill payable)
    Â 
    Â 
    Â 
    Â 
    Â 
    Â 
    Statement of Change in Equity
    
    
    Â 
    Â 
    Â 
    Beginning owner's equity
    Â 
    98582
    Add: Profit
    Â 
    133474
    Â 
    Â 
    232056
    Less: Drawings
    Â 
    40700
    Ending owner's equity
    Â 
    191356
    
    
    
    Classified balance sheet
    
    
    Assets
    Â 
    Â 
    Cu
ent Assets
    Â 
    Â 
    Cash at bank
    Â 
    101200
    Accounts receivable
    107800
    Â 
    Allowance for doubtful debts
    2200
    105600
    Inventory
    Â 
    46112
    Prepaid advertising
    Â 
    3388
    Total cu
ent assets
    Â 
    256300
    Â 
    Â 
    Â 
    Plant, property and equipment
    Â 
    Â 
    Shop furniture and fittings
    55000
    Â 
    Less: Accumulated depreciation
    19844
    35156
    Sales equipment
    31680
    Â 
    Less: Accumulated depreciation
    11440
    20240
    Plant, property and equipment
    Â 
    55396
    Â 
    Â 
    Â 
    Total Assets
    Â 
    311696
    Â 
    Â 
    Â 
    Liabilities and Equity
    Â 
    Â 
    Cu
ent liabilities
    Â 
    Â 
    Advertising payable
    Â 
    9900
    Accounts payable
    Â 
    35200
    Interest payable
    Â 
    1320
    Cu
ent...
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