+ The following are the statements of comprehensive income and financial positions of Green Limited: Green...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
+ The following are the statements of comprehensive income and financial positions of Green Limited: Green Limited Statement of Comprehensive Income for the Year Ended 31 December 2018 GHC Sales Less: Cost of goods sold Opening stock Purchases Less closing stock Gross profit Less operating expenses Administrative expenses Depreciation Selling & distribution expenses Profit before interest and tax Interest Profit before tax Corporate tax Profit after interest & tax Non-current assets Plant & machinery Motor vehicles Equipment Current assets Inventory Receivables Cash & bank Green Limited Statement of Financial Position as at 31 December 2018 31/1/2018 Total assets Financed by: Stated capital Income surplus Non-current liabilities 5% Debenture Current liabilities Creditors Total equity and liabilities 24,000 20,000 48,000 55,000 2,000 20,000 8,000 10,000 38,000 92,000 130,000 16,500 48,000 64,500 (24,000) 57,000 46,000 27,000 130,000 (9,000) (4,000) (10,000) 16,500 23,000 34,000 GHC $6,000 40,000 5,000 (40,500) 45,500 (23,000) 22,500 (5,000) 31/12/017 17,500 6,000 11,500 15,000 8,000 12,000 35,000 73,500 108,500 45,000 35,200 28,300 108,500 Required: (a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31 December 2018. + The following are the statements of comprehensive income and financial positions of Green Limited: Green Limited Statement of Comprehensive Income for the Year Ended 31 December 2018 GHC Sales Less: Cost of goods sold Opening stock Purchases Less closing stock Gross profit Less operating expenses Administrative expenses Depreciation Selling & distribution expenses Profit before interest and tax Interest Profit before tax Corporate tax Profit after interest & tax Non-current assets Plant & machinery Motor vehicles Equipment Current assets Inventory Receivables Cash & bank Green Limited Statement of Financial Position as at 31 December 2018 31/1/2018 Total assets Financed by: Stated capital Income surplus Non-current liabilities 5% Debenture Current liabilities Creditors Total equity and liabilities 24,000 20,000 48,000 55,000 2,000 20,000 8,000 10,000 38,000 92,000 130,000 16,500 48,000 64,500 (24,000) 57,000 46,000 27,000 130,000 (9,000) (4,000) (10,000) 16,500 23,000 34,000 GHC $6,000 40,000 5,000 (40,500) 45,500 (23,000) 22,500 (5,000) 31/12/017 17,500 6,000 11,500 15,000 8,000 12,000 35,000 73,500 108,500 45,000 35,200 28,300 108,500 Required: (a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31 December 2018.
Expert Answer:
Answer rating: 100% (QA)
Solution Cash flow statement for the year ended 31December2018Indirect ... View the full answer
Related Book For
International Financial Reporting and Analysis
ISBN: 978-1408075012
5th edition
Authors: David Alexander, Anne Britton, Ann Jorissen
Posted Date:
Students also viewed these accounting questions
-
The following tables show the costs associated with a certain product and the production volume for the four quarters of the business year. Use MATLAB to nd (a) The quarterly costs for materials,...
-
There are additional tax advantages, beyond the mismatch of income and deduction, for the establishment of an ESOP. One of these is non-recognition of gain treatment. To obtain non-recognition of...
-
The summarized statements for the year ended 31 December 2007 for Mat, Rug and P entities are as follows: Statements of comprehensive income for the year ended 31 December 2007 The following...
-
Consider a low-pass signal with a bandwidth of 3 kHz. A linear delta modulation system, with step size = 0.1V, is used to process this signal at a sampling rate ten times the Nyquist rate. (a)...
-
Solid-state integrated electronic circuits are composed of distributed R and C elements. Therefore, feedback electronic circuits in integrated circuit form must be investigated by obtaining the...
-
Match the following organizational attributes in the left column with the organizational form in the right column. More than one organizational form may be associated with a given attribute. 1....
-
converges uniformly on (-00,00). (b) Prove that fooo e-xy dx converges uniformly on [1,00). (c) Prove that foOOye-XYdx exists for each y E [0,00) and converges uniformly on any [a, b] C (0,00), but...
-
Cash budgetcomprehensive Following are the budgeted income statements for the second quarter of 2013 for SeaTech, Inc.: * Includes all product costs (i.e., direct materials, direct labor, and...
-
Who ends up paying employment taxes for self - employed individuals?
-
Amplitude-modulated (AM) radios use an oscillator operating at \(455 \mathrm{kHz}\) to demodulate the received signal. This frequency is called the intermediate frequency or IM. Your task is to...
-
Imagine you are student of behavior analysis, are in a discussion with a general psychology student. The general psychology student asserts that research in behavior analysis is not "real" research...
-
As consumers we're connected to an instant feed or live updates, breaking news, and messages. We believe that when we post something on social media, we will get instant feedback from friends. What...
-
Describe the process for screening candidates for ethics. Outline which job candidate factors are illegal to consider when hiring. Explain how to obtain accurate behavior information from resumes,...
-
In relation to Operation management, sustainability and supply chain management explain the following terms; What is the overall objective of scheduling? What is JIT? What is a Lean producer? Discuss...
-
The issue of Royal Rose Manufacturing Co., Ltd. with many new employees is the low level of production. Although the company implements training programs for employees, the skill improvement of...
-
For safety reasons an elevator stops with an acceleration of g/3 in the case of an emergency. Let's assume an unusually high ceiling of the elevator to hang three sections lamp one below the other...
-
Craigco has expected sales of 550,000 units this year, an ordering cost of $25.00 per order, and carrying costs of $100 per unit 1 X . a) What is the economic ordering quantity? (4 marks) b) How many...
-
The time to assemble the first unit on a production line is 10 hours. The learning rate is 0.94. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed...
-
Discuss recent research articles which examine the accounting quality or the degree of earnings management after mandatory IFRS adoption.
-
For the same entity identify what, if any, additional information you as a potential shareholder would have wished to be available and what use you would make of the information.
-
Discuss how the financial reporting infrastructure of a country can have a significant impact on financial statements prepared under IFRS.
-
CALCU LATIN G RE QU IRE D D OW N P AY M E N T ON H OM E P URCHASE. How much would you have to put down on a house with an appraised value of $105,000 when the lender required an 80 percent...
-
Describe the home-buying process.? lo1
-
Design a plan to research and select a new or used automobile. lo1
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App