HI5020 Corporate Accounting Assessment Task

Question 3 Week 3 (7 Marks)

Following information relate to Hawke Ltd for the financial year ended 2020

Hawke Ltd
Statement of Financial position
As at 30 June 2020

Hawke Ltd

Statement of Financial performance
For the period ended 30 June 2020

Additional information:
The loss on sale of equipment relates to an item that originally cost $80 000 and had a carrying amount of $20000 when sold.
Required: Calculate the following:

(a) Cash collected from customers (1 mark)
(b) Cash paid to suppliers (2 marks)
(c) Cash paid to employees for wages and salary (1 mark)
(d) Cash spent on plant and equipment (1 mark)
(e) Proceeds from sale of equipment (1 mark)
(f) Cash paid for insurance (1 mark)