EXERCISE 10.5 ASSETS NON-CURRENT ASSETS Land, at cost Plant Vehicles Cost Less: Accumulated depreciation Investments CURRENT...

Transcribed Image Text:

EXERCISE 10.5 ASSETS NON-CURRENT ASSETS Land, at cost Plant Vehicles Cost Less: Accumulated depreciation Investments CURRENT ASSETS Inventory Accounts receivable Cost Less: Accumulated depreciation CAPITAL AND LIABILITIES CAPITAL Capital J. Bond NON-CURRENT LIABILITIES CURRENT LIABILITIES Accounts payable Bank overdraft NOTES TO THE FINANCIAL STATEMENT: 1. DOUBLE-O WHOLESALERS STATEMENT OF FINANCIAL POSITION AT 30 SEPTEMBER 2021 2. 1. Capital NOTES: Balance 1 October Profit for the year Drawings 2021 R 11 500 000 5 500 000 2 000 000 2 700 000 700 000 1 500 000 2 400 000 900 000 2 500 000 1 600 000 1 200 000 400 000 R13 100 000 11 400 000 800 000 900 000 600 000 300 000 R13 100 000 2021 5 400 000 8 500 000 13 900 000 2 500 000 11 400 000 2020 R 6 000 000 3 000 000 1 200 000 1 800 000 600 000 REQUIRED: Prepare the Statement of Cash Flows for the year ended 30 September 2021. 300 000 1 200 000 900 000 1 500 000 1 100 000 900 000 200 000 R7 100 000 5 400 000 1 000 000 700 000 500 000 200 000 R7 100 000 2020 4 000 000 3 900 000 7 900 000 2 500 000 5 400 000 During the year plant with a carrying amount of R400 000 and accumulated depreciation of R200 000 thereon was sold at a profit of R100 000. No other plant was sold during the year. A vehicle costing R700 000 with accumulated depreciation of R500 000 was sold at a loss of R50 000. There were no other vehicle sales. Page 1 EXERCISE 10.5 ASSETS NON-CURRENT ASSETS Land, at cost Plant Vehicles Cost Less: Accumulated depreciation Investments CURRENT ASSETS Inventory Accounts receivable Cost Less: Accumulated depreciation CAPITAL AND LIABILITIES CAPITAL Capital J. Bond NON-CURRENT LIABILITIES CURRENT LIABILITIES Accounts payable Bank overdraft NOTES TO THE FINANCIAL STATEMENT: 1. DOUBLE-O WHOLESALERS STATEMENT OF FINANCIAL POSITION AT 30 SEPTEMBER 2021 2. 1. Capital NOTES: Balance 1 October Profit for the year Drawings 2021 R 11 500 000 5 500 000 2 000 000 2 700 000 700 000 1 500 000 2 400 000 900 000 2 500 000 1 600 000 1 200 000 400 000 R13 100 000 11 400 000 800 000 900 000 600 000 300 000 R13 100 000 2021 5 400 000 8 500 000 13 900 000 2 500 000 11 400 000 2020 R 6 000 000 3 000 000 1 200 000 1 800 000 600 000 REQUIRED: Prepare the Statement of Cash Flows for the year ended 30 September 2021. 300 000 1 200 000 900 000 1 500 000 1 100 000 900 000 200 000 R7 100 000 5 400 000 1 000 000 700 000 500 000 200 000 R7 100 000 2020 4 000 000 3 900 000 7 900 000 2 500 000 5 400 000 During the year plant with a carrying amount of R400 000 and accumulated depreciation of R200 000 thereon was sold at a profit of R100 000. No other plant was sold during the year. A vehicle costing R700 000 with accumulated depreciation of R500 000 was sold at a loss of R50 000. There were no other vehicle sales. Page 1

Answer rating: 100% (QA)

To prepare the Statement of Cash Flows for the year ended 30 September 2021 for DOUBLEO WHOLESALERS based on the provided Statement of Financial Position Balance Sheet and additional notes well follow ... View the full answer