The following information is provided by Creamer limited CREAMER LTD FINANCIAL POSITION STATEMENT AS AT 31st MAR 2023 2023 2022 Sh.'000' Sh.'000' Assets Non current assets Land and buildings Motor vans Fixtures and fittings Current assets Stock Debtors prepayments bank and cash balance 95,000 46,000 25,000 166,000 28,000 14,000 6,000 55,000 35,000 28,000 118,000 20,000 16,000 8,000 3,000 Total assts Equity and liabilities Capital and reserves Ordinary share capital Share premium Revaluation reserve Retained profit Noncurrent liabilities 10% Debenture loan Bank loan Current liabilities Trade creditors Interest payable Current tax Bank overdraft Proposed dividend Total equity and liabilities 48,000 214,000 80,000 20,000 15,000 18,000 36,000 30,000 6,000 23,000 9,000 6,000 4,000 3,000 45,000 214,000 4,000 165,000 50,000 15,000 15,000 15,000 30,000 20,000 10,000 15,000 6,000 5,000 - 4,000 30,000 214,000. 

Additional information 

i. Land and building were revalued upwards by sh 10,000,000 during the year. In addition and acquisition of land and building of shs 40,000,000 was made 

ii. iii. Depreciation on motor vans amounting to sh 4,000,000 was provided in the profit and loss account for the year. Motor vans having a net value of shs 8,000,000 were sold at a profit of sh 3,000,000 during the year Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve. Kari ltd ordinary shares have a par value of shs 20 

iv. Interest expense charged to the profit and loss account for the year amounted to sh. 8,000,000 

v. During the year, tax amounting to 6,000,000 was paid vi. Total dividends for the year (both interim and final) amounted to 5,000,000 

vii. Net profit after tax for the year amounted to shs, 8,000,000 

Required 

Prepare a cash flow statement for the year ended 31st March 2023 in accordance to IAS 7 using the indirect method. (20 Marks). 

Note to show all your workings QUESTION TWO Aragon Company has just received the August 31 2015 bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance August 1 9,369 Deposits during August 32,200 Note collected for depositor , including $40 interest 1,040 41,569 42,609 Cheques cleared during August 34,500 8,109 Bank service charges 20 8,089 Balance, August 31 8,089 The general ledger Cash account contained the following entries for the month of August. Cash Balance Aug1 10,050 Disbursement in Aug Receipts during August 35,000 35,403 Deposits in transit at August 31 are $3,800, and cheques outstanding at August 31 total 1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one cheque in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. 

Required 

a) Prepare a bank reconciliation dated August 31, 2015 (12 Marks) 

b) Prepare any entries necessary to make the books correct and complete. (6 Marks) 

c) What amount of cash should be reported in the August 31 statement of financial position? (2 Marks)