Poor Results Limited (PRL), which has trademarked the term Just Failure now wants to trademark the...

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Poor Results Limited (PRL), which has trademarked the term "Just Failure" now wants to trademark the term "Last Chance". Why? Because the simple word Last Chance has marketing advantages over the term Just Failure. It is easy to remember and is more universal. Regulators, however, are balking at PRL's request. They say that the possible trademark is too similar to other existing or pending trademarks that contain the word "Chance" Also, regulators suggest that the term Last is merely descriptive and therefore lacks trademark protection. PRL is fighting back and has sent the trademark examiner a 1,928-page application defense. Following information pertains to Poor Results Limited: Extract from statement of profit or loss for the year ended 31 December 2017 Rs. in '000 Profit before taxation 8,955 Taxation (2.945) Profit after taxation 6.010 Extract from statement of financial position as on 31 December 2017 2017 2016 2017 Equity and liabilities Assets Rs. in '000- 2016 ---- Rs. in ¹000---- 12,400 10,000 Property plant & Share capital Share premium Retained earnings 1,400 equipment - net 21,400 15,800 13,450 12,440 Current assets: Surplus on revaluation 4,000 Stock-in-trade 5,600 5,750 Trade receivables-net 6,840 4,446 Non-current liabilities: Long-term loans 4,100 5,000 Other receivables 2,385 800 Current liabilities: Cash & bank 2,355 3,204 Trade payables 1,900 1,400 680 660 Accruals & other payables Tax liability 650 500 38.580 30.000 38.580 30.000 Other information: (i) During the year, a plant costing Rs.9,500,000 and having a book value of Rs.5,200,000 was disposed of for Rs. 4,800,000 of which Rs. 1,800,000 are still outstanding. (ii) Depreciation for the year amounted to Rs. 7,350,000. (iii) Financial charges for the year amounted to Rs. 1,100,000. Accrued financial charges as on 31 December 2017 amounted to Rs. 112,000 (2016: Rs. 48,000). Required: Prepare statement of cash flows of PRL for the year ended 31 December 2017. (any method) Poor Results Limited (PRL), which has trademarked the term "Just Failure" now wants to trademark the term "Last Chance". Why? Because the simple word Last Chance has marketing advantages over the term Just Failure. It is easy to remember and is more universal. Regulators, however, are balking at PRL's request. They say that the possible trademark is too similar to other existing or pending trademarks that contain the word "Chance" Also, regulators suggest that the term Last is merely descriptive and therefore lacks trademark protection. PRL is fighting back and has sent the trademark examiner a 1,928-page application defense. Following information pertains to Poor Results Limited: Extract from statement of profit or loss for the year ended 31 December 2017 Rs. in '000 Profit before taxation 8,955 Taxation (2.945) Profit after taxation 6.010 Extract from statement of financial position as on 31 December 2017 2017 2016 2017 Equity and liabilities Assets Rs. in '000- 2016 ---- Rs. in ¹000---- 12,400 10,000 Property plant & Share capital Share premium Retained earnings 1,400 equipment - net 21,400 15,800 13,450 12,440 Current assets: Surplus on revaluation 4,000 Stock-in-trade 5,600 5,750 Trade receivables-net 6,840 4,446 Non-current liabilities: Long-term loans 4,100 5,000 Other receivables 2,385 800 Current liabilities: Cash & bank 2,355 3,204 Trade payables 1,900 1,400 680 660 Accruals & other payables Tax liability 650 500 38.580 30.000 38.580 30.000 Other information: (i) During the year, a plant costing Rs.9,500,000 and having a book value of Rs.5,200,000 was disposed of for Rs. 4,800,000 of which Rs. 1,800,000 are still outstanding. (ii) Depreciation for the year amounted to Rs. 7,350,000. (iii) Financial charges for the year amounted to Rs. 1,100,000. Accrued financial charges as on 31 December 2017 amounted to Rs. 112,000 (2016: Rs. 48,000). Required: Prepare statement of cash flows of PRL for the year ended 31 December 2017. (any method)

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Cash flow statement For the year ended Dec 31 2017 Operating activities Profit after taxation Noncas... View the full answer