Fast Feet Couriers Limited’s Balance Sheets as at 30 June 2016 and 2017 were as follows
WEEK 13 TUTORIAL QUESTIONS CASH FLOW STATEMENT II BASED ON LECTURE 12 Due Date: Week 13 (GP – Wed, 25/10/17; CAB – Thu, 26/10/17) PRACTICAL QUESTION (18 marks) Fast Feet Couriers Limited’s Balance Sheets as at 30 June 2016 and 2017 were as follows: Fast Feet Couriers Limited’s Balance Sheet as at 30 June 2017 2016 ASSETS $ $ Current Assets Cash Accounts Receivable 140,000 260,000 Provision for Doubtful Debts (21,000) (20,000) Inventory 420,000 240,000 Prepaid Insurance 3,000 4,000 542,000 484,000 Non-Current Assets Land 230,000 230,000 Buildings 200,000 200,000 Accumulated Depreciation – Buildings (75,000) (50,000) Plant & Equipment 300,000 280,000 Accumulated Depreciation – Plant & Equipment (70,000) (45,000) 585,000 615,000 TOTAL ASSETS 1,127,000 1,099,000 LIABILITIES AND OWNERS’ EQUITY Liabilities Bank…
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