Can you please help me prepare the Cash Flow Statement of Harmony Limited for the year ended 31 December 2020. INFORMATIONThe information provided below was extracted from the accounting records of Harmony Limited on 31 December 2020:Harmony LimitedExtract of Statement of Comprehensive Income for the year ended 31 December 2020RSales6 600 000Cost of sales(3 900 000)Gross profit2 700 000Operating expenses(1 710 000)Selling and administrative expenses1 260 000Depreciation450 000Operating profit990 000Interest expense(270 000)Profit before tax720 000Company tax(240 000)Profit after tax480 000Extract of Statement of Changes in Equity for the year ended 31 December 2020RetainedearningsRBalance on 01 January 20201 500 000Profit after tax480 000Dividends paid and proposed in 2020(180 000)Balance on 31 December 20201 800 000 Balances extracted from the Statement of Financial Position as at 31 December:20202019RRPlant and equipment3 750 0003 000 000Investments210 000240 000Inventories1 290 0001 230 000Accounts receivable1 140 0001 050 000Cash and cash equivalents300 000210 000Ordinary share capital1 860 0001 860 000Retained earnings1 800 0001 500 000Long-term loan360 000210 000Accounts payable2 520 0001 962 000Dividends payable120 000150 000Income tax payable30 00048 000Note:(a)Plant and equipment was purchased but there was no disposal.(b)The number of ordinary shares in issue was 930 000.(c)All purchases and sales of inventory were on credit.(d)Credit terms to debtors are 30 days. Debtors took approximately 28 days to settle their accounts during 2019.

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INFORMATION The information provided below was extracted from the accounting records of Harmony Limited on 31 December 2020: Harmony Limited Extract of Statement of Comprehensive Income for the year ended 31 December 2020 R Sales 6 600 000 Cost of sales (3 900 000) Gross profit 2 700 000 Operating expenses (1 710 000) Selling and administrative expenses 1 260 000 Depreciation 450 000 Operating profit 990 000 Interest expense (270 000) Profit before tax 720 000 |Company tax (240 000) Profit after tax 480 000

INFORMATION The information provided below was extracted from the accounting records of Harmony Limited on 31 December 2020: Harmony Limited Extract of Statement of Comprehensive Income for the year ended 31 December 2020 R Sales 6 600 000 Cost of sales (3 900 000) Gross profit 2 700 000 Operating expenses (1 710 000) Selling and administrative expenses 1 260 000 Depreciation 450 000 Operating profit 990 000 Interest expense (270 000) Profit before tax 720 000 |Company tax (240 000) Profit after tax 480 000

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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