Question: cash flow statement please QUESTION 2 [TOTAL MARKS: 33.33] The Statement of financial position for Global Hospitality Ltd as on 31st December 2021 and 2020
QUESTION 2 [TOTAL MARKS: 33.33] The Statement of financial position for Global Hospitality Ltd as on 31st December 2021 and 2020 is as follows: Statement of financial position of Global hospitality Ltd as on 31st December ... Non-current 2021 2021 2020 2020 assets/fixed assets Land and buildings 1,074,000 646,000 Equipment 485000 210.000 1,559,000 856,000 Current assets Inventory 25,000 19.000 Trade receivables 159,000 125,000 Bank 43.000 227.000 0 144,000 1.786,000 1.000.000 Capital and liabilities Share capital 470,000 400,000 Share premium 0 0 Retained earnings 906,000 1,376,000 176,000 576,000 Non-current liabilities Debentures 75,000 95,000 Current liabilities Trade payables 205,000 170,000 Bank overdraft 0 54,000 Taxation due 105,000 75,000 Dividend due 25.000 335.000 30.000 329.000 1,786,000 1,000,000 There was a sale of non-current assets during 2021.The net book value of the asset sold was 80,000 and there was a profit on the sale of 20,000. Fixed assets worth 868,000 were purchased during the year. Total depreciation charged for the year was 85,000. Extract from Income Statement as on 31st December 2021 Operating profit on ordinary activities 950.000 Interest (90,000) Tax on profits on ordinary activities (105.000) Operating profit after taxation and interest 755,000 Requirement: Q 2(a) (18 Marks] Prepare a cash flow statement for Global hospitality Ltd for year ended 31st December 2021 in accordance with IAS 7
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
