The following information was extracted from the accounting records of Royal (Pty) Ltd for the financial...
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The following information was extracted from the accounting records of Royal (Pty) Ltd for the financial year ended 31 May 2021. Royal (Pty) Ltd Extract: Statement of financial position as at 31 May 2021 Property, plant and equipment: Land and buildings at cost.... Equipment at carrying amount... Investment in shares......... Inventory..... Trade debtors... Prepaid expenses... Ordinary share capital... Retained earnings....... 12% Debentures... Trade creditors.... Bank overdraft... Income tax payable... Dividends payable 31 May 2021 R 300 000 45 000 247 500 186 000 55 500 Nil 600 000 82 500 30 000 37 500 31 500 7 500 45 000 31 May2020 R 240 000 52 500 165 000 180 000 42 750 2 250 442 500 7 500 90 000 63 750 37 500 11 250 30 000 Royal (Pty) Ltd Extract: Statement of profit or loss and other comprehensive income for the year ended 31 May 2021 Depreciation - equipment.. Dividends received.. Interest expense.. Profit before tax.. Income tax.. Profit for the year. Royal (Pty) Ltd Extract: Statement of changes in equity for the year ended 2021 Dividends declared: Ordinary 31 May 2021 R Show all workings. 7 500 27 000 11 250 240 000 75 000 165 000 31 May 2021 R 90 000 Required: Prepare the statement of cash flows for Royal (Pty) Ltd for the year ended 31 May 2021 in compliance with the International financial Reporting Standards in as much as possible for this business. The following information was extracted from the accounting records of Royal (Pty) Ltd for the financial year ended 31 May 2021. Royal (Pty) Ltd Extract: Statement of financial position as at 31 May 2021 Property, plant and equipment: Land and buildings at cost.... Equipment at carrying amount... Investment in shares......... Inventory..... Trade debtors... Prepaid expenses... Ordinary share capital... Retained earnings....... 12% Debentures... Trade creditors.... Bank overdraft... Income tax payable... Dividends payable 31 May 2021 R 300 000 45 000 247 500 186 000 55 500 Nil 600 000 82 500 30 000 37 500 31 500 7 500 45 000 31 May2020 R 240 000 52 500 165 000 180 000 42 750 2 250 442 500 7 500 90 000 63 750 37 500 11 250 30 000 Royal (Pty) Ltd Extract: Statement of profit or loss and other comprehensive income for the year ended 31 May 2021 Depreciation - equipment.. Dividends received.. Interest expense.. Profit before tax.. Income tax.. Profit for the year. Royal (Pty) Ltd Extract: Statement of changes in equity for the year ended 2021 Dividends declared: Ordinary 31 May 2021 R Show all workings. 7 500 27 000 11 250 240 000 75 000 165 000 31 May 2021 R 90 000 Required: Prepare the statement of cash flows for Royal (Pty) Ltd for the year ended 31 May 2021 in compliance with the International financial Reporting Standards in as much as possible for this business.
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Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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