- The Following Information Has Been Extracted From The Accounts Of Meehan Leisure Ltd A Company With A Chain Of Leisure 1 (41.99 KiB) Viewed 11 times
The following information has been extracted from the accounts of Meehan Leisure Ltd., a
company with a chain of leisure centeres in Ireland Operating profit for the year After charging: Depreciation Increase in provision for bad debts Loss on sale of fixed assets During the year, loan interest paid amounted to $70,000 and corporation tax paid amounted to $213,000 Information on working capital levels at the beginning and end of the period is as follows: 1-Jan 31-Dec S $ Current assets Inventory Accounts receivable Prepayments Current liabilities Accounts payable Accruals 27,500 32,000 15,000 $ 1,000,000 42,000 17,000 245,000 17,000 14,000 24,300 34,000 14,000 46,000 15,000 Required You are required to calculate the net cash generated from operating activities for the year.