ATAR Notes: Forum

Archived Discussion => 2010 => Mid-year exams => Exam Discussion => Victoria => Accounting => Topic started by: accaz on June 11, 2010, 06:52:11 pm

Title: 2.32
Post by: accaz on June 11, 2010, 06:52:11 pm

for the cashflow statement,
did you have to deduct 10,000 off the stock, as the owner withdrew $10,000 in stock?

does $280,000 go in or $270,000

Title: Re: 2.32
Post by: Stormer on June 11, 2010, 08:23:32 pm

Drawings was not in it...

It said operating activites

Title: Re: 2.32
Post by: accaz on June 12, 2010, 05:24:53 pm

yes, but would operating outflow (stock control ) be $270,000 or 280,000

Title: Re: 2.32
Post by: kakar0t on June 12, 2010, 06:32:10 pm

Operating outflow = purchase of stock

So drawings of stock HAVE NO IMPACT ON IT because IT DOES NOT REPRESENT A CASHFLOW!

Title: Re: 2.32
Post by: vidang on June 12, 2010, 06:54:46 pm

i did $280,000 didnt take the drawings of stock into consideration