Q.5 Total Marks 10 Condensed financial data of Argo Vista Company for 2019 and 20 are...

 

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Q.5 Total Marks 10 Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial Position As of December 31 2019, and 2020 Plant assets Accumulated depreciation Debt investment (held for collection) Inventory Receivables Cash Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued liabilities Sales Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other income and expense: Gain on sale of investments Income before tax Income tax expense Net Income $ S $ S 2020 2019 19,000 $17,000 (12,000) 13,000 16,000 17,500 18,000 71,500 $63.000 Agro Vista Company Income Statement For the year ended December 31, 2020 $ 19,000 $17,000 24,500 14,000 12,000 2,000 71,500 (11,700) 14,700 19,000 13,000 11.000 19,000 16,500 8,000 2,500 $63,000 69,000 47,000 22,000 9,300 12,700 800 13,500 5,400 8,100 $ Additional information: During the year, $ 700 ordinary issues were issued in exchange for plant assets. No plant assets were sold in 2018. Cash dividends were SR 2,600 Required: Prepare a statement of cash flows for 2020 using indirect method. Q.5 Total Marks 10 Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial Position As of December 31 2019, and 2020 Plant assets Accumulated depreciation Debt investment (held for collection) Inventory Receivables Cash Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued liabilities Sales Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other income and expense: Gain on sale of investments Income before tax Income tax expense Net Income $ S $ S 2020 2019 19,000 $17,000 (12,000) 13,000 16,000 17,500 18,000 71,500 $63.000 Agro Vista Company Income Statement For the year ended December 31, 2020 $ 19,000 $17,000 24,500 14,000 12,000 2,000 71,500 (11,700) 14,700 19,000 13,000 11.000 19,000 16,500 8,000 2,500 $63,000 69,000 47,000 22,000 9,300 12,700 800 13,500 5,400 8,100 $ Additional information: During the year, $ 700 ordinary issues were issued in exchange for plant assets. No plant assets were sold in 2018. Cash dividends were SR 2,600 Required: Prepare a statement of cash flows for 2020 using indirect method.

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Cash flow from operating activities net income Answer AGRO VISA COMPANY STATEMENT OF CASH FLOWS SEPT... View the full answer