Tutorial solutions Week 9

Financial studies ACCT1101 Financial Accounting Tutorial Solutions – Week 9 Exercise 12.5 Bank reconciliation NUNN’S AGENCIES Required: Prepare the bank reconciliation statement at 31 March, 2006. Model solution from Hoggett et al. (2007) NUNN’S AGENCIES Bank Reconciliation Statement as at 31 March 2006 Balance as per bank statement Cr $13 155.10 Add: Deposit not credited 1 270.30 14 425.40 Less: Cheques not presented Cheque No. 41 $339.50 Cheque No. 43 262.64 Cheque No. 46 423.90 Cheque No. 51 195.10 1 221.14 Cash at Bank balance Dr $13 204.26 1 Exercise 19.4 Investing and financing activities OCHRE LTD Required: A. Prepare the net cash flow used in investing activities section of the cash flow statement using the classification shown in Illustrative Example A of AASB 107. B. Prepare the net cash provided by financing activities section of the cash flow statement using the classification shown in Illustrative Example A of AASB 107. Model solution from Hoggett et al. (2007) A. OCHRE LTD Cash Flow Statement (Extract) for the year ended 30 June 2006 Cash flows from investing activities: Purchase of investments (6,8) $(270 000) Purchase of property, plant and equipment (3,5) (270 000) Proceeds from sale of equipment (1) 120 000 Proceeds from sale of investments (7) 51 000 Net cash used in investing activities $(369 000) B. Cash flows from financing activities: Proceeds from issue of ...