With the following financial statements, prepare the adjustments in non-cash working capital accounts statement, and the statement
Question:
Statements of Financial Position
As at December 31
(in $)
1. The adjustments in non-cash working capital accounts statement
2. The statement of cashflows
Transcribed Image Text:
Statement of Income For the year ended December 31, 2013 in Revenue Cost of sales Gross proft Other income Costs/expenses Total Profit before taxes Income tax expense Profit for the year 550,000 (200,000) 350,000 10,000 (210,000) 200,000 150,000 60,000 90,000 Statement of Changes in Equity For the year ended December 31 (in $) 2013 2012 Retained Earnings Balance at beginning of ye 210,000 90,000 (70,000) 230,000 ar 210,000 Profit for the year Dividends Balance at end of vear Share Capital Balance at beginning of year 210,000 71,000 71,000 Shares issued Balance at end of year 71,000 71,000 Statements of Financial Positioin As at December 31 in 2013 2012 Non-current assets 350,000 Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net 400,000 100 300,000 65 285,000 2013 2012 Non-current assets Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net 400,000 350,000 100,000 (65,000) 300,000 285,000 Current assets Inventories Trade receivables Cash and cash equivalents 300,000 250,000 3,000 553,000 853.000 230,000 200,000 4,000 434,000 Total Total assets current assets Equity Share capital Retained earnings 71,000 230,000 301,000 71,000 210,000 281,000 Total equity Liabilities Non-current liabilities Long-term borrowings 200,000 122,000 Current liabilities Trade and other payables Accrued expenses Short-term borrowings 200,000 32,000 120,000 352,000 552,000 853,000 178,000 38,000 100,000 316,000 438,000 Total current liabilities Total liabilities Total equity and liabilities
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