The following information relates to Brunswick Ltd.

  1. At the beginning of the accounting period the company has a wages payable liability of $300 and at the reporting date a wages payable of $720. During the year the wages expense shown in the income statement was $700.
  2. At the beginning of the accounting period the company has property plant and equipment (PPE) with a carrying amount of $800. At the end of the accounting period, the carrying amount of the PPE is $2,400. During the year depreciation charged was $160, a revaluation surplus of $480 was recorded and PPE with a carrying amount of $120 was sold for $160.
  3. At the beginning of the accounting period the company has retained earnings of $5,000 and at the end of the accounting period the balance of the retained earnings is $4,600. The reported profit for the year was $5,500.
  4. Brunswick Ltd also provides you with the following information on its sale and collection of accounts receivable:
    • Sales for the year                                                                               $35,000
    • Discounts provided to customers for early payment                $900
    • Doubtful debts expense for the year                                             $500
    • Opening balance of accounts receivable                                       $8,200
    • Closing balance of accounts receivable                                         $6,400
    • Opening balance of the allowance for doubtful debts               $720
    • Closing balance of the allowance for doubtful debts                 $640

 

Required:

  1. Calculate the cash paid for wages
  2. Calculate the cash paid to purchase new PPE
  3. Calculate the dividend paid
  4. Calculate cash collected from customers

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