The following financial statements information is available from ST Group of companies: Consolidated Income Statement for...
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The following financial statements information is available from ST Group of companies: Consolidated Income Statement for year ended 31 December, 2021 Turnover Cost of Sales Gross Profit Distribution Costs, Administration and Other Expenses Operating Profit Interest Profit before taxation Taxation NET PROFIT Consolidated Balance Sheet as at: Non-Current Assets Property, Plant and Equipment Current Assets Inventories Receivables Cash and Cash Equivalents Total Assets Current Liabilities Accounts Payables - Taxation Payable Non-Current Liabilities Bonds Payable Stockholders' Equity Share Capital Retained Earnings 5,904 5,790 2.987 5,531 1659 12.596 13.088 31 December 2021 $'000 21,196 14.681 35,877 7,190 3,003 $'000 45,614 (20,130) 25,484 25.684 35.877 (4,503) (7,526) 13,455 (306) 13,149 (1,089) 12,060 31 December 2020 $'000 6,997 4,044 2.204 6,637 1.142 12,596 3,986 15,780 13.245 29.025 7,779 4,664 16.582 29.025 Additional Information: There was no gain or loss on the sales of fixed assets, nor on the bonds retired. Depreciation included in Distribution cost amounted to $1,059,000 Old equipment was sold for $881,000 cash and new equipment was purchased for $7,356,000 i. ii. iii. iv. V. cash. Cash dividends of $2,958,000 were paid. Old bonds were retired, while no new bonds or shares was issued. Required: A. Prepare a complete Consolidated Statement of Cash Flows for the ST Group for the year ended 31 December 2021 using the Indirect Method. (20 marks) The following financial statements information is available from ST Group of companies: Consolidated Income Statement for year ended 31 December, 2021 Turnover Cost of Sales Gross Profit Distribution Costs, Administration and Other Expenses Operating Profit Interest Profit before taxation Taxation NET PROFIT Consolidated Balance Sheet as at: Non-Current Assets Property, Plant and Equipment Current Assets Inventories Receivables Cash and Cash Equivalents Total Assets Current Liabilities Accounts Payables - Taxation Payable Non-Current Liabilities Bonds Payable Stockholders' Equity Share Capital Retained Earnings 5,904 5,790 2.987 5,531 1659 12.596 13.088 31 December 2021 $'000 21,196 14.681 35,877 7,190 3,003 $'000 45,614 (20,130) 25,484 25.684 35.877 (4,503) (7,526) 13,455 (306) 13,149 (1,089) 12,060 31 December 2020 $'000 6,997 4,044 2.204 6,637 1.142 12,596 3,986 15,780 13.245 29.025 7,779 4,664 16.582 29.025 Additional Information: There was no gain or loss on the sales of fixed assets, nor on the bonds retired. Depreciation included in Distribution cost amounted to $1,059,000 Old equipment was sold for $881,000 cash and new equipment was purchased for $7,356,000 i. ii. iii. iv. V. cash. Cash dividends of $2,958,000 were paid. Old bonds were retired, while no new bonds or shares was issued. Required: A. Prepare a complete Consolidated Statement of Cash Flows for the ST Group for the year ended 31 December 2021 using the Indirect Method. (20 marks)
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ST Group of Companies Statement of Cash FlowsIndirect Method For the year end... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
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