University of Ballarat — Cash Flow Tutorial
To complete our knowledge of accounting principles we will calculate the cash how of ’Class Exercise Pty Ltd’, using their Income Statement and Balance Sheet.
To get a feel for the problem, how much did Class Exercise Pty Ltd pay off their bank loan. How much dividend did they pay?
Over the page we re-construct the T accounts to see where the cash came from, and where it went.
Class Exercise Ry Ltd
Balance Sheet Summary as at 30 June 2006
2006
2005
Cash
55,200
73,800
Debtors
94,000
98,000
Inventory
107,300
112,400
Plant and Equipment
149,000
102,300
Accumulated Depn (P&E)
(46,000)
(48,000)
359,500
338,500
Accounts Payable
41,000
56,000
Accrued Expenses
28,200
5,500
Income tax Payable
18,000
15,000
Bank Loan
90,000
115,000
Paid Up Capital
100,000
80,000
Retained Earnings
82,300
67,000
359,500
338,500
Summary Income Statement 2005/06
Sales
384,000
Less COGS
198,000
Gross Profit on Sales
186,000
Proceeds on Sale of Eqpt
16,000
Less BV of Eqpt Sold
7,000
Profit on Sale of Eqpt
9,000
Gross Profit
195,000
less expenses
Depreciation
11,000
Interest
9,200
Other Expenses
119,000
139,200
Profit before tax
55,800
Income Tax Expense
18,000
Profit after tax
37,800
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