Exam prac Flashcards
operating activities - inflows
- receipts from customers
- interest received
- dividends received
- other operating revenue
operating revenue - outflows
GST remitted to the ATO payments to suppliers payments to employees payment of interest expense other operating expenses
investing activities - inflows
receipts from sale of NCA and other investments
investing activities - outflows
purchase of assets
purchase of investments
financing activities - inflows
proceeds from loans/borrowings
capital contribution
financing activities - outflows
repayment of loans/borrowing
payment of drawings
final three lines of CFS are
net increase (decrease) in cash held
add opening cash balance (less overdraft)
cash balance at the end of the period
receipts from customers
A/c rec. a/c - balance (beg) sales gst payable bad debts discount expense **cash at bank**
four line entry
accrued/prepaid
cash at bank
accrued / prepaid
profit and loss
three line entry
cash at bank
accrued/prepaid
profit and loss
pears are assets
Prepaid expense and accrued revenue are debit by nature in the closing entry
payments to suppliers
inventories control a/c
- balance
cogs
accounts payable
a/c payable a/c - balance inventories control gst rec **cash at bank**
payments to employees
wages and salaries a/c
- accru/prepaid
