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Stephanie Ram Corporation | Workings | Amount $ | ||
Cashflow statement as on 31.03.2016 | Decrease in Accounts Receivable | |||
Indirect Method | Amount $ | Amount $ | Closing Balance (net) | 168,800.00 |
Particulars | Less: Opening Balance (net) | 202,000.00 | ||
Income before income taxes | 22,400.00 | Decrease in Accounts Receivable | (33,200.00) | |
Adjustment to reconcile Net Income to Net Cash | ||||
Add: | Increase in Prepaid Rent | |||
Depreciation Expense | 47,400.00 | Closing Balance | 4,000.00 | |
Less: | Less: Opening Balance | 3,000.00 | ||
Gain on sale of Long-term investment | 5,000.00 | Increase in Prepaid Rent | 1,000.00 | |
Income Tax paid | 800.00 | |||
Cash flow from Operations | 64,000.00 | Decrease in Merchandise Inventory | ||
Changes in Current Assets/Current Liabilities | Closing Balance | 340,000.00 | ||
Decrease in Accounts Receivable | 33,200.00 | Less: Opening Balance | 440,000.00 | |
Increase in Prepaid Rent | (1,000.00) | Decrease in Merchandise Inventory | (100,000.00) | |
Decrease in Merchandise Inventory | 100,000.00 | |||
Decrease in Accounts Payable | (61,000.00) | 71,200.00 | Decrease in Accounts Payable | |
Net cash provided by (Used for) operating activities | 135,200.00 | Closing Balance | 129,900.00 | |
Less: Opening Balance | 190,900.00 | |||
Cash flow from investing activities | Decrease in Accounts Payable | (61,000.00) | ||
Equipment sold | 13,400.00 | |||
Equipment Purchased | (37,800.00) | Income Tax paid | ||
Net cash provided by (Used for) investing activities | (24,400.00) | Opening Balance | 4,600.00 | |
Add: Income Tax expense for the year | 4,800.00 | |||
Cash flow from financing activities | Less: Closing Balance | 8,600.00 | ||
Notes Payable paid | (16,000.00) | Income Tax paid | 800.00 | |
Notes Payable borrowed | 32,000.00 | |||
Dividend paid | (5,000.00) | Equipment sold | ||
Net cash provided by (Used for) financing activities | 11,000.00 | Cost | 34,800.00 | |
Less: Accumulated depreciation | 26,400.00 | |||
Net Increase/(Decrease) in cash | 121,800.00 | Book Value | 8,400.00 | |
Cash Balance, March 31, 2015 | 45,000.00 | Add: Gain on sale | 5,000.00 | |
Cash Balance, March 31, 2016 | 166,800.00 | Sale value of equipment | 13,400.00 | |
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