The financial statements of Plate Limited for the financial year 1 are as follows: Statement of...
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The financial statements of Plate Limited for the financial year 1 are as follows: Statement of Financial Position at 31 December Year 1 Sm ASSETS Non-Current Assets Intangible assets Tangible assets Financial assets Current Assets Inventories Trade Receivable Short-term investments Total current assets Total assets EQUITY AND LIABILITIES Ordinary shares capital Revaluation surplus Retained profits 净利润 Non-current liabilities Long-term bank loans Current liabilities Bank overdraft Trade payables Interest payables Tax payables Total current liabilities Total liabilities Total equity and liabilities Revenue Cost of goods sold Gross profit Distribution costs Administrative expenses Net profits before interest and tax 277 1,023 220 1,520 Interest Income Finance cost Profit before tax Taxation Profit for the period Retained profit as at 1 January Year 1 Dividend paid Retained profit as at 31 December Year 1 246 - 509 50 805 2.325 476 251 116 843 759 388 244 49 42 723 1,482 2.325 Sm 1,162 (866) 296 (47) (110) 139 79 (55) 163 Year 0 Sm (24) 139 26 (49) 116 234 600 200 1,034 128 335 30 493 The statement of profit or loss and other comprehensive income for the year ended 31 December Year 1 1.527 401 26 427 557 185 311 22 25 543 1,100 1.527 Other supplemental information: 1. The operating profit is after charging depreciation on the non-current asset of $22 million and amortization on the intangible non-current assets of $7 million. 2. During the year ended 31 December Year 1, plant and machinery costing $1,464 million, net book value of $244 million, was sold for $250 million. 3. During the year, some financial assets were written down by $15m to reflect the permanent diminution in value. Additional financial assets were purchased on 31 December Year 1 for $40m. Other financial assets were disposed of for a value of $50m during year. 4. During the year ended 31 December Year 1,25 million shares were issued at $3.0. Required: (a) Prepare the statement of cash flows for Plate Limited for the year ended 31 December Year 1, using indirect method. (b) Explain the treatment of depreciation charge and of the dividends paid. The financial statements of Plate Limited for the financial year 1 are as follows: Statement of Financial Position at 31 December Year 1 Sm ASSETS Non-Current Assets Intangible assets Tangible assets Financial assets Current Assets Inventories Trade Receivable Short-term investments Total current assets Total assets EQUITY AND LIABILITIES Ordinary shares capital Revaluation surplus Retained profits 净利润 Non-current liabilities Long-term bank loans Current liabilities Bank overdraft Trade payables Interest payables Tax payables Total current liabilities Total liabilities Total equity and liabilities Revenue Cost of goods sold Gross profit Distribution costs Administrative expenses Net profits before interest and tax 277 1,023 220 1,520 Interest Income Finance cost Profit before tax Taxation Profit for the period Retained profit as at 1 January Year 1 Dividend paid Retained profit as at 31 December Year 1 246 - 509 50 805 2.325 476 251 116 843 759 388 244 49 42 723 1,482 2.325 Sm 1,162 (866) 296 (47) (110) 139 79 (55) 163 Year 0 Sm (24) 139 26 (49) 116 234 600 200 1,034 128 335 30 493 The statement of profit or loss and other comprehensive income for the year ended 31 December Year 1 1.527 401 26 427 557 185 311 22 25 543 1,100 1.527 Other supplemental information: 1. The operating profit is after charging depreciation on the non-current asset of $22 million and amortization on the intangible non-current assets of $7 million. 2. During the year ended 31 December Year 1, plant and machinery costing $1,464 million, net book value of $244 million, was sold for $250 million. 3. During the year, some financial assets were written down by $15m to reflect the permanent diminution in value. Additional financial assets were purchased on 31 December Year 1 for $40m. Other financial assets were disposed of for a value of $50m during year. 4. During the year ended 31 December Year 1,25 million shares were issued at $3.0. Required: (a) Prepare the statement of cash flows for Plate Limited for the year ended 31 December Year 1, using indirect method. (b) Explain the treatment of depreciation charge and of the dividends paid.
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Related Book For
International Financial Reporting And Analysis
ISBN: 9781473766853
8th Edition
Authors: David Alexander, Ann Jorissen, Martin Hoogendoorn
Posted Date:
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