Please do not give image format 5.The following balances were extracted from N's financial statements:Extracts from the statement of financial position as at 31 December2022Deferred taxationCurrent tax payableA. £156,000B. £114,000C. £135,000D. £21,000Extract from statement of profit or loss for the year ended 31 December 2022Income tax expense£135,00040,000110,000The amount of tax paid that should be included in N's statement of cash flowsfor the year ended 31 December 2022 is:202131,00098,000(i) Tax paid(ii) Purchase of investments(iii) Loss on disposal of machinery(iv) Purchase of equipment6. IAS 7 Statement of cash flows sets out the three main headings to be used in astatement of cash flows. Items that may appear on a statement of cash flowsinclude:A. (i) and (ii)B. (i) and (iii)C. (ii) and (iv)D. (iii) and (iv)Which of the above items would be adjusted / included under the heading"Cash flows from operating activities" according to IAS 7 indirect method?

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5. The following balances were extracted from N's financial statements: Extracts from the statement of financial position as at 31 December 2022 40,000 110,000 Deferred taxation Current tax payable 2021 31,000 98,000 Extract from statement of profit or loss for the year ended 31 December 2022 Income tax expense £135,000 A. £156,000 B. £114,000 C. £135,000 D. £21,000 The amount of tax paid that should be included in N's statement of cash flows for the year ended 31 December 2022 is:

5. The following balances were extracted from N's financial statements: Extracts from the statement of financial position as at 31 December 2022 40,000 110,000 Deferred taxation Current tax payable 2021 31,000 98,000 Extract from statement of profit or loss for the year ended 31 December 2022 Income tax expense £135,000 A. £156,000 B. £114,000 C. £135,000 D. £21,000 The amount of tax paid that should be included in N's statement of cash flows for the year ended 31 December 2022 is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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