See attached data.
Use the direct method of presenting cash flows from operating activities, to prepare an statement of cash flows in accordance with AASB 107
It is for the year ended 30 June 2010 and also needs a reconciliation of cash flows arising from operating activities and profit.
- The land revaluation reserve increment for the year is net of deferred tax of $4000.
- Plant with a carrying amount of $60000 (cost $85000, accumulated depreciation $25000) was sold for $76000
- Accounts payable at 30 June 2010 include $22000 in respect of plant acquisition
- There were borrowing repayments of $30000 during the yr
- The increase in share capital of $30000 arose from the company's dividend reinvestment scheme
- Dividends declared out of profits for the year were: interim dividend $64000, final dividend $60000
Provides steps necessary to create a statement of cash flows.