The Statements of financial position of Serendib Ltd are shown. You are given the following information: (a) A plant acquired
The Statements of financial position of Serendib Ltd are shown. You are given the following information:
(a) A plant acquired for £450,000 was sold in the year, making a gain of £14,000.
(b) During the year property, plant and equipment were depreciated by £129,000 and brand names amortised by £12,000.
(c) Extracts from the Statement of income for the year 2011 are shown.
(d) Tax on profits earned in 2010 was settled by a payment of £68,000.
(e) Some of the loan notes were redeemed in the year at a premium of 10%.
(f) Expenses on issuing shares in the year, amounting to £2,000, were offset from the Share premium balance.
(g) The dividend declared on 31 December 2010 was paid in February 2011, followed by an interim dividend of £15,000 paid in August 2011.
Prepare a Statement of cash flows for the year ended 31 December 2011 in the format stated in IAS 7.
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