The summarized statements of financial position as at 31 March 20X1 and 31 March 20X0 of Higher

Question:

The summarized statements of financial position as at 31 March 20X1 and 31 March 20X0 of Higher Ltd are as follows:

Additional information
1. Non-current assets

Non-current assets disposed of during the year were sold for £22,000.
2. Current assets at 31 March for each of the two years comprise the following:

3. The preference shares were redeemed during the year ended 31 March 20X1. This redemption was funded by a new issue of equity shares at a premium.
4. During the year the company made a transfer of £15,000 from retained earnings to the capital redemption reserve.


Required
Prepare a statement of cash flows for Higher Ltd for the year ended 31 March 20X1, in accordance with IAS 7. Assume that there was no investment income, interest paid or dividends paid during the year ended 31 March 20X1.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction To Financial Accounting

ISBN: 9781526803009

9th Edition

Authors: Anne Marie Ward, Andrew Thomas

Question Posted: