The summarised statements of financial position of Standard Inc at 31 December 2014 and 2015 are...

 

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The summarised statements of financial position of Standard Inc at 31 December 2014 and 2015 are as follows. Issued share capital Share premium Retained earnings Long-term loans Payables Bank overdraft Tax payable Proposed dividends Depreciation Freehold property at cost Plant and machinery at cost Fixtures and fittings at cost Inventories Trade receivables Long-term investments Cash at bank Plant and machinery Fixtures and fittings (c) (d) (e) 2015 Rs. in '000 150,000 35,000 41,000 30,000 48,000 33,000 15,000 54,000 15,000 421,000 130,000 151,000 29,000 51,000 44,000 4,600 11,400 421,000 2014 Rs. in '000 100,000 15,000 14.000 70,000 34,000 14,000 21,500 7,500 45,000 13,000 334,000 110,000 120,000 24,000 37,000 42,800 200 The following information is relevant: (a) There had been no disposal of freehold property in the year. (b) A machine tool which had cost Rs. 8,000,000 (in respect of which Rs. 6,000,000 depreciation had been provided) was sold for Rs. 3,000,000, and fixtures which had cost Rs. 5,000,000 (in respect of which depreciation of Rs 2,000,000 had been provided) were sold for Rs. 1,00,0000. Profits and losses on those transactions had been dealt with through the statement of profit or loss The statement of profit or loss charge in respect of tax was Rs. 22,000,000. 334,000 The premium paid on redemption of the long-term loan was Rs. 2,000,000, which has been written off to the statement of profit or loss The proposed dividend for 2014 had been paid during the year. interest received during the year was Rs. 450,000. Interest charged in the statement of profit or loss for the year was Rs. 6,400,000 Accrued interest of Rs. 440,000 is included in payables at 31 December 2014 (n at 31 December 2015), (a) The government stock is a long term investment. Required Prepare a cash flow statement for the year ended 31 December 2015, together with notes as required by IAS 7. The summarised statements of financial position of Standard Inc at 31 December 2014 and 2015 are as follows. Issued share capital Share premium Retained earnings Long-term loans Payables Bank overdraft Tax payable Proposed dividends Depreciation Freehold property at cost Plant and machinery at cost Fixtures and fittings at cost Inventories Trade receivables Long-term investments Cash at bank Plant and machinery Fixtures and fittings (c) (d) (e) 2015 Rs. in '000 150,000 35,000 41,000 30,000 48,000 33,000 15,000 54,000 15,000 421,000 130,000 151,000 29,000 51,000 44,000 4,600 11,400 421,000 2014 Rs. in '000 100,000 15,000 14.000 70,000 34,000 14,000 21,500 7,500 45,000 13,000 334,000 110,000 120,000 24,000 37,000 42,800 200 The following information is relevant: (a) There had been no disposal of freehold property in the year. (b) A machine tool which had cost Rs. 8,000,000 (in respect of which Rs. 6,000,000 depreciation had been provided) was sold for Rs. 3,000,000, and fixtures which had cost Rs. 5,000,000 (in respect of which depreciation of Rs 2,000,000 had been provided) were sold for Rs. 1,00,0000. Profits and losses on those transactions had been dealt with through the statement of profit or loss The statement of profit or loss charge in respect of tax was Rs. 22,000,000. 334,000 The premium paid on redemption of the long-term loan was Rs. 2,000,000, which has been written off to the statement of profit or loss The proposed dividend for 2014 had been paid during the year. interest received during the year was Rs. 450,000. Interest charged in the statement of profit or loss for the year was Rs. 6,400,000 Accrued interest of Rs. 440,000 is included in payables at 31 December 2014 (n at 31 December 2015), (a) The government stock is a long term investment. Required Prepare a cash flow statement for the year ended 31 December 2015, together with notes as required by IAS 7.

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Standard Inc Cash Flow Statement for the Year Ended 31 December 2015 Cash flows from operating activ... View the full answer