QUESTION 1 The following information was extracted from the accounting records of Belle Mare Limited: Statement...
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QUESTION 1 The following information was extracted from the accounting records of Belle Mare Limited: Statement of Comprehensive Income for the year ended 31 December Sales Cost of sales Gross profit Operating expenses Depreciation Other operating expenses Operating profit Interest on mortgage loan Profit before tax Income tax Profit after tax Statement of Financial Position as at 31 December ASSETS Non-current assets Property, plant and equipment Current assets Inventories (all Trading Inventory) Trade & other receivables Cash & cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital (issued at R10 each) Retained income Non-current liability (Mortgage loan, 12% p.a.) Current liabilities Trade & other payables South African Revenue Services (income tax) Shareholders for dividends 2018 (R) 1856 000 (1 280 000) 576 000 (291 200) 30 000 261 200 284 800 (24 000) 260 800 (90 240) 170 560 2018 (R) 2 464 160 2 464 160 356 000 120 000 40 000 196 000 2 820 160 2018 (R) 2 437 560 2 180 000 257 560 200 000 182 600 98 000 8 600 76 000 2 820 160 2017 (R) 1 200 000 (750 000) 450 000 (212 000) 26 000 186 000 238 000 (72 000) 166 000 (58 100) 107 900 2017 (R) 2 444 000 2 444 000 336 000 250 000 64 000 22 000 2 780 000 2017 (R) 1980 000 1760 000 220 000 600 000 200 000 138 000 6 000 56 000 2 780 000 Additional information * New shares were issued on 1 January 2018. * Interim and final dividends for the year ended 31 December 2018 amounted to R133 000. * Fixed assets were sold at carrying (book) value during the year for R144 000. Required: Study the information provided above by Belle Mare Ltd and prepare the Statement of Cash Flows (using the indirect method) for the year ended 31 December 2018. QUESTION 1 The following information was extracted from the accounting records of Belle Mare Limited: Statement of Comprehensive Income for the year ended 31 December Sales Cost of sales Gross profit Operating expenses Depreciation Other operating expenses Operating profit Interest on mortgage loan Profit before tax Income tax Profit after tax Statement of Financial Position as at 31 December ASSETS Non-current assets Property, plant and equipment Current assets Inventories (all Trading Inventory) Trade & other receivables Cash & cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital (issued at R10 each) Retained income Non-current liability (Mortgage loan, 12% p.a.) Current liabilities Trade & other payables South African Revenue Services (income tax) Shareholders for dividends 2018 (R) 1856 000 (1 280 000) 576 000 (291 200) 30 000 261 200 284 800 (24 000) 260 800 (90 240) 170 560 2018 (R) 2 464 160 2 464 160 356 000 120 000 40 000 196 000 2 820 160 2018 (R) 2 437 560 2 180 000 257 560 200 000 182 600 98 000 8 600 76 000 2 820 160 2017 (R) 1 200 000 (750 000) 450 000 (212 000) 26 000 186 000 238 000 (72 000) 166 000 (58 100) 107 900 2017 (R) 2 444 000 2 444 000 336 000 250 000 64 000 22 000 2 780 000 2017 (R) 1980 000 1760 000 220 000 600 000 200 000 138 000 6 000 56 000 2 780 000 Additional information * New shares were issued on 1 January 2018. * Interim and final dividends for the year ended 31 December 2018 amounted to R133 000. * Fixed assets were sold at carrying (book) value during the year for R144 000. Required: Study the information provided above by Belle Mare Ltd and prepare the Statement of Cash Flows (using the indirect method) for the year ended 31 December 2018.
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Belle Mare Ltd Statement of Cash Flows using the indirect method for the year ended 31 December 2018 ... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
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