The balance sheets of F Black, a sole trader, for two successive years are shown below. You are required to draw up a cash flow statement for the year ended 31 December 20X4 

(a) Using the FRS 1 layout and 

(b) Using the IAS 7 layout.

Transcribed Image Text:

Fixed assets Land and premises (cost £52,000) Plant and machinery (cost £19,000) (cost £25,000) Current Assets Stocks Trade debtors Bank Current Liabilities Trade creditors Bank overdraft Balance Sheets as at 31 December 20X5 Loan (repayable December 20X8) Represented by Capital account: Balance at 1 January £ 22,000 13,650 £ 6,600 17,800 24,400 (35,650) £ 44,000 14,250 58,250 (11,250) 47,000 47,000 42,000 4 11,600 20X6 £ 6,300 12,600 7,100 26,000 (11,600) f 40,000 19,600 59,600 14,400 74,000 (20,000) 54,000 47,000