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Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 Dividends payable 30,000 Share capital 950,000 Retained Earnings 410,200 General Reserve 5,000 Details Depreciation Gain on sale of equipment 30/6/2021 30/6/2022 $ 85,000 98,000 (5,000) (7,000) 64,000 61,000 40,000 33,000 3,000 3,500 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 Net operating profit Add/less: Non cash items Additional Information: • net profit after taxation is $402,000. This profit was determined after accounting for the following inco items: Table 11 - Profit and loss $ $000 18,000 4,000 15,000 9,000 32,000 1050,000 480,000 5,000 1,474,000 1,839,500 1,200 Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the recon net profit after tax. XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Changes in current assets and current liabilities 21,000 Net cash flow from operating activities $

Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 Dividends payable 30,000 Share capital 950,000 Retained Earnings 410,200 General Reserve 5,000 Details Depreciation Gain on sale of equipment 30/6/2021 30/6/2022 $ 85,000 98,000 (5,000) (7,000) 64,000 61,000 40,000 33,000 3,000 3,500 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 Net operating profit Add/less: Non cash items Additional Information: • net profit after taxation is $402,000. This profit was determined after accounting for the following inco items: Table 11 - Profit and loss $ $000 18,000 4,000 15,000 9,000 32,000 1050,000 480,000 5,000 1,474,000 1,839,500 1,200 Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the recon net profit after tax. XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Changes in current assets and current liabilities 21,000 Net cash flow from operating activities $

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 36BE: Analyzing Fixed Assets Pitt reported the following information for 2018 and 2019: Required: Compute...
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Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) 30/6/2021 $ Net operating profit Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 9,000 Dividends payable 30,000 32,000 Share capital 950,000 1050,000 Retained Earnings 410,200 480,000 General Reserve 5,000 Add/less: Non cash items 85,000 (5,000) 64,000 40,000 3,000 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 1,200 30/6/2022 $000 18,000 $ 98,000 (7,000) 61,000 33,000 3,500 Additional Information: . • net profit after taxation is $402,000. This profit was determined after accounting for the following income and expense items: Table 11 - Profit and loss Details 1,474,000 1,839,500 4,000 15,000 Depreciation Gain on sale of equipment Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the reconciliation with net profit after tax. 21,000 Changes in current assets and current liabilities 5,000 XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Net cash flow from operating activities $
Transcribed Image Text:Triple X Ltd has provided an extract from the balance sheets showing the following for the years ended 30 June 2021 and 30 June 2022 were: Table 10 - Extract balance sheet Accounts receivable Allowance for doubtful debts Bank Inventory Prepayments Land & Buildings (net) Plant & Equipment (net) Goodwill on acquisition (net) 30/6/2021 $ Net operating profit Accounts payable Accruals Taxation payable 19,000 Provision for employee annual leave 12,000 9,000 Dividends payable 30,000 32,000 Share capital 950,000 1050,000 Retained Earnings 410,200 480,000 General Reserve 5,000 Add/less: Non cash items 85,000 (5,000) 64,000 40,000 3,000 1,200,000 1,560,000 67,000 86,000 20,000 5,000 1,474,000 1,839,500 47,000 65,000 800 1,200 30/6/2022 $000 18,000 $ 98,000 (7,000) 61,000 33,000 3,500 Additional Information: . • net profit after taxation is $402,000. This profit was determined after accounting for the following income and expense items: Table 11 - Profit and loss Details 1,474,000 1,839,500 4,000 15,000 Depreciation Gain on sale of equipment Good will impairment Determine the net cash from operating activities for the year ended 30 June 2022 by completing the reconciliation with net profit after tax. 21,000 Changes in current assets and current liabilities 5,000 XXX Pty Ltd Reconciliation of net operating profit to cash flow from operating activities Net cash flow from operating activities $
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