EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 Sales Cost of sales Gross profit Depreciation Other expenses Operating profit Interest income Profit before tax Company tax Profit after tax ADDITIONAL INFORMATION R ? (5 304 000) 3 096 000 (420 000) (1 176 000) 1 500 000 120 000 1 620 000 (480 000) 1 140 000 All purchases and sales of inventories were on credit. Equipment was purchased for cash. A vehicle with a cost price of R720 000 and accumulated depreciation of R120 000 was sold at carrying value. Long-term investments were increased during the financial year ended 31 December 2023. Interim dividends paid during 2023 amounted to R456 000. No final dividends were declared. The issued share capital for the year ended 31 December 2023 consisted of 1 000 000 ordinary shares. Trade and other receivables comprised trade debtors only. Trade and other payables consisted of trade creditors only.
EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 Sales Cost of sales Gross profit Depreciation Other expenses Operating profit Interest income Profit before tax Company tax Profit after tax ADDITIONAL INFORMATION R ? (5 304 000) 3 096 000 (420 000) (1 176 000) 1 500 000 120 000 1 620 000 (480 000) 1 140 000 All purchases and sales of inventories were on credit. Equipment was purchased for cash. A vehicle with a cost price of R720 000 and accumulated depreciation of R120 000 was sold at carrying value. Long-term investments were increased during the financial year ended 31 December 2023. Interim dividends paid during 2023 amounted to R456 000. No final dividends were declared. The issued share capital for the year ended 31 December 2023 consisted of 1 000 000 ordinary shares. Trade and other receivables comprised trade debtors only. Trade and other payables consisted of trade creditors only.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kindly can you assist with the attached question, info all attached. thanks
Transcribed Image Text:EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
31 DECEMBER 2023
Sales
Cost of sales
Gross profit
Depreciation
Other expenses
Operating profit
Interest income
Profit before tax
Company tax
Profit after tax
ADDITIONAL INFORMATION
(5 304 000)
096 000
3
R
?
(420 000)
(1 176 000)
500 000
1
120 000
1 620 000
(480 000)
1 140 000
All purchases and sales of inventories were on credit.
Equipment was purchased for cash.
A vehicle with a cost price of R720 000 and accumulated depreciation of R120 000 was sold at carrying
value.
Long-term investments were increased during the financial year ended 31 December 2023.
Interim dividends paid during 2023 amounted to R456 000. No final dividends were declared.
The issued share capital for the year ended 31 December 2023 consisted of 1 000 000 ordinary shares.
Trade and other receivables comprised trade debtors only. Trade and other payables consisted of trade
creditors only.
Transcribed Image Text:REQUIRED
Use the information provided below to prepare the Cash Flow Statement of Starlite Limited for the year ended
31 December 2023.
INFORMATION
The information given below was obtained from the books of Starlite Limited on 31 December 2023 (the end of
the financial year):
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER:
ASSETS
Property, plant and equipment
Long-term investments
Inventories
Trade and other receivables
Bank
EQUITY AND LIABILITIES
Ordinary Share Capital
Retained Income
Trade and other payables
Company tax payable
2023
R
3 720 000
1 320 000
2 100 000
2 520 000
1 500 000
11 160 000
7 200 000
3 000 000
900 000
60 000
11 160 000
2022
R
2 280 000
900 000
2 580 000
1 800 000
1 320 000
8 880 000
6 000 000
2 316 000
456 000
108 000
8 880 000
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