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28 September, 19:09

Prepare the statement of cash flows of Dux Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activiti

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  1. 28 September, 20:57
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    See explanation section

    Explanation:

    Dux Company

    Statement of cash flow (Direct Method)

    For the year ended, December 31, 2018

    Particulars $

    Cash flow from operating activities

    Cash from customers (1) 203,000

    Cash from dividends (2) 2,000

    Cash inflow 205,000

    Cash paid to suppliers (3) (118,000)

    Cash paid to employees (4) (28,000)

    Cash paid for interest (5) (6,000)

    Cash paid for taxes (6) (18,000)

    Cash outflows (170,000)

    Net cash used by operating activities $35,000

    Cash flow from investing activities

    Sale of assets 7,000

    Purchase of plant asset (15,000)

    Purchase of long-term investment

    (5,000)

    Net cash from investing activities $ (13,000)

    Cash flow from financing activities

    Dividends paid (8) (27,000)

    Issued bonds (7) 26,000

    Purchase of treasury stock (8,000)

    Net cash used by financing activities $ (9,000)

    Net changes in cash $13,000

    Add: Cash at the beginning $20,000

    Cash at the end of period $33,000
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