Additional information: Equipment which had cost GH¢255, 000 and with a net book value of GH¢ 135,000 and was sold for GH¢96, 000 during the year. The cash proceeds of the sale of asset investments properties amounted to GH¢75,000. Dividends paid during the year amounted to GH¢240,000. Required: Prepare the company’s statement of cash flows for the year ended 31st December 2018, using the indirect method, adopting the format in IAS 7 Statement of cash flows.

Financial Accounting Intro Concepts Meth/Uses
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Author:Weil
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Chapter16: Statement Of Cash Flows: Another Look
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Additional information:
Equipment which had cost GH¢255, 000 and with a net book value of GH¢ 135,000 and was sold for GH¢96, 000 during the year.
The cash proceeds of the sale of asset investments properties amounted to GH¢75,000.
Dividends paid during the year amounted to GH¢240,000.

Required:
Prepare the company’s statement of cash flows for the year ended 31st December 2018, using the indirect method, adopting the format in IAS 7 Statement of cash flows.

12:37 M
Done
50
QUESTION 2
The following information is available for CANDY GH, a limited liability company:
Statement of Profit or Loss and Other Comprehensive Income for the year ended 31st
December, 2018
GH¢
Revenue
7,659
Cost of sales
Gross profit
Operating expenses
Operating profit
Interest expenses
(5,442)
2,217
(1,167)
1,050
(150)
Operating profit before tax
Тах еxpense
900
(420)
Profit after tax
480
Statement of Financial Position as at 31st December:
2018
2017
GH¢
GH¢
ASSETS
Noncurrent assets
Property, Plant & Equipment
Cost
2,160
1,785
Accumulated depreciation
Carrying value
Intangible assets
Investment properties
(1,020)
(870)
1.140
915
750
600
Nil
75
Current assets
Inventory
450
306
Receivables
1,170
945
Cash
Total assets
156
3,666
2,844
EQUITY AND LIABILITIES
Equity
Stated capital
Retained earnings
1,380
1,173
780
540
Noncurrent liabilities
12% Debenture
510
150
Current liabilities
Trade payable
Rent accrued or owing
381
357
255
294
Таxation
360
3,666
330
Equity and liabilities
2,844
Full text: 2963
1. Equipment which had cost GH¢255, 000 and with a net book value of GH¢
Aa =
Transcribed Image Text:12:37 M Done 50 QUESTION 2 The following information is available for CANDY GH, a limited liability company: Statement of Profit or Loss and Other Comprehensive Income for the year ended 31st December, 2018 GH¢ Revenue 7,659 Cost of sales Gross profit Operating expenses Operating profit Interest expenses (5,442) 2,217 (1,167) 1,050 (150) Operating profit before tax Тах еxpense 900 (420) Profit after tax 480 Statement of Financial Position as at 31st December: 2018 2017 GH¢ GH¢ ASSETS Noncurrent assets Property, Plant & Equipment Cost 2,160 1,785 Accumulated depreciation Carrying value Intangible assets Investment properties (1,020) (870) 1.140 915 750 600 Nil 75 Current assets Inventory 450 306 Receivables 1,170 945 Cash Total assets 156 3,666 2,844 EQUITY AND LIABILITIES Equity Stated capital Retained earnings 1,380 1,173 780 540 Noncurrent liabilities 12% Debenture 510 150 Current liabilities Trade payable Rent accrued or owing 381 357 255 294 Таxation 360 3,666 330 Equity and liabilities 2,844 Full text: 2963 1. Equipment which had cost GH¢255, 000 and with a net book value of GH¢ Aa =
12:36 A
Done
50
STATEMENT OF CASH FLOWS
QUESTION 1
The following are the Statements of Financial Position of Yomi Limited for the years
ended December 31, 2017 and 2018.
2018
2017
Assets
GH¢
GH¢
GH¢
GH¢
Non Current Assets
Land
560,000
300,000
2,000,000
2,560,000
1,900,000
2,200,000
Building and Equipment
Accumulated Depreciation
(800,000)
1,760,000
(770,000)
1,430,000
Long-Term Investments
50,000
25,000
Current Assets
Inventory
Accounts Receivable
Cash
300,000
320,000
460,000
50,000
410.000
30,000
Prepaid
20,000
760,000
15,000
845,000
2,570,000
2,300,000
Equities and Liabilities
Ordinary shares (GH¢2 par
value)
Retained Earnings
910,000
710,000
670,000
620,000
Non Current Liabilities
Bonds
500,000
800,000
Long-Term Note Payable
150,000
Current Liabilities
Accountable Payable
Accrued Liabilities
300,000
40,000
2,570,000
Additional information about 2018 transactions and events:
120,000
50,000
2,300,000
1. Net profit before tax for the year was GH¢120,000
2. Tax paid during the year amounted to GH¢10,000
3. Depreciation expense on buildings and equipment was GH¢60,000
4. Sold equipment with a cost of GH¢50,000 and accumulated depreciation of
GH¢30,000 for cash of GH¢17,000
5. Declared and paid cash dividends of GH¢60,000
6. Issued a GH¢150,000 long-term note and the money was used to purchase
buildings equipment.
7. Purchased long-term investments for GH¢25,000
8. Issued 20,000 shares of GH¢10 par value ordinary shares for GH¢200,000.
9. Purchased land for GH¢260,000.
Required:
'; statement of cash flows for the year ended 31st December 2018,
Full text: 2963 od, adopting the format in IAS 7 Statement of cash flows.
88
Aa E
Transcribed Image Text:12:36 A Done 50 STATEMENT OF CASH FLOWS QUESTION 1 The following are the Statements of Financial Position of Yomi Limited for the years ended December 31, 2017 and 2018. 2018 2017 Assets GH¢ GH¢ GH¢ GH¢ Non Current Assets Land 560,000 300,000 2,000,000 2,560,000 1,900,000 2,200,000 Building and Equipment Accumulated Depreciation (800,000) 1,760,000 (770,000) 1,430,000 Long-Term Investments 50,000 25,000 Current Assets Inventory Accounts Receivable Cash 300,000 320,000 460,000 50,000 410.000 30,000 Prepaid 20,000 760,000 15,000 845,000 2,570,000 2,300,000 Equities and Liabilities Ordinary shares (GH¢2 par value) Retained Earnings 910,000 710,000 670,000 620,000 Non Current Liabilities Bonds 500,000 800,000 Long-Term Note Payable 150,000 Current Liabilities Accountable Payable Accrued Liabilities 300,000 40,000 2,570,000 Additional information about 2018 transactions and events: 120,000 50,000 2,300,000 1. Net profit before tax for the year was GH¢120,000 2. Tax paid during the year amounted to GH¢10,000 3. Depreciation expense on buildings and equipment was GH¢60,000 4. Sold equipment with a cost of GH¢50,000 and accumulated depreciation of GH¢30,000 for cash of GH¢17,000 5. Declared and paid cash dividends of GH¢60,000 6. Issued a GH¢150,000 long-term note and the money was used to purchase buildings equipment. 7. Purchased long-term investments for GH¢25,000 8. Issued 20,000 shares of GH¢10 par value ordinary shares for GH¢200,000. 9. Purchased land for GH¢260,000. Required: '; statement of cash flows for the year ended 31st December 2018, Full text: 2963 od, adopting the format in IAS 7 Statement of cash flows. 88 Aa E
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