The following information was extracted from the accounting records of Mode Ltd for the financial year ended
Question:
The following information was extracted from the accounting records of Mode Ltd for the financial year ended 30 June 2022.
Extract from: Statement of Profit or loss and other comprehensive income of Mode Ltd for the year ended 30 June 2022
Additional information:
1. Shares were issued for cash during the year.
2. Dividends of R180 000 were declared during the current financial year.
3. On 31 October, machinery with a carrying amount of R110 000 was sold for cash. A replacement machine as well as additional machinery was purchased for cash.
4. No long term borrowings were made during the year.
5. Investments were sold during the year. No new investments were purchased.
Required:
Take all the above information into account and prepare the statement of cash flows for Mode Ltd for the year ended 30 June 2022. Use the indirect method. Your answer must comply with the International Financial Reporting Standards (IFRS) appropriate to this type of business.
Show all workings. Round off all workings to the nearest Rand.
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett