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Statement of Cash Flow

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Statement of Cash Flow

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.
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  • Author
    Posts
  • September 27, 2016 at 6:17 am #341846
    karenleehaha
    Member
    • Topics: 4
    • Replies: 6
    • ☆

    Question:
    Balance Sheet
    2016 2015
    ‘000 ‘000
    Non-current assets 1,048 750
    Accum’ Depreciation 190 120
    ———– ———
    858 630
    Current Assets
    Inventory 98 105
    Trade Receivable 102 86
    Dividend Receivable 57 50
    Cash 42 18
    ———- ———
    299 259
    Total Assets 1,157 889

    Capital and reserves
    Share Capital 200 120
    Share Premium 106 80
    Revaluation Reserve 212 12
    Retained Earnings 283 226
    ———- ———
    801 438

    Non-current Liabilities
    Loan 200 300

    Current Liabilities
    Trade Payables 77 79
    Interest Accrual 3 5
    Tax Payable 76 67
    ———- ———
    156 151
    Total Liabilities 1,157 889
    _______________________________________________________________________

    Statement of Profit or Loss
    ‘000
    Sales Revenue 1,100
    Cost Of Sales (678)
    ———
    Gross Profit 422
    Operating Expenses (309)
    Operating Profit 113
    Inventment income
    -interest 15
    -dividend 57
    Finance Charge (22)
    Income Tax (71)
    ——–
    Net Profit for the Year 92
    ——–
    -Operating Expenses include a loss on disposal of non-current assets of 5,000
    -During the year which originally cot 80,000 and with depreciation of 15,000 was disposal of.
    _______________________________________________________________________
    Answer:
    Net Profit Before Tax 163
    Adj: Depreciation 85
    loss on sale 5
    Dividend Received (50)
    Interest Expense 24
    Interest Received (15)
    Dividend Paid 35
    ———
    247
    Decrease in Inventory 7
    Increase in Receivable(16)
    Increase in Payable 9
    ———-
    247
    Interest Paid (24)
    Tax Paid (62)
    ———-
    161
    Purchase on non-current assets (178)
    Proceeds on sale 60
    Interest Received 15
    Dividend Received 50
    ———
    -53
    Share Capital 106
    Repayment of loan (100)
    Dividend Paid (35)
    ———-
    -29

    Cash Equivalents 79
    Cash Equivalents at the beginning of period 18
    ——-
    Cash Equivalents at the end of period 61
    =====

    Is my ANSWER and FORMAT for indirect method correct? Thanks so much=)

    September 27, 2016 at 11:35 am #341876
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54664
    • ☆☆☆☆☆

    I am sorry but we cannot spend the time checking answers to long questions like this.

    You must have an answer in the same book in which you found the question and you should use this forum is to ask about whatever in the answer you are not clear about.

    The format of your statement is fine (apart from missing the headings to each section).

    The final answer cannot be correct since the cash at the end of the period is 42,000 in the Statement of financial position.

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