Jones Limited is a manufacturer of electrical goods. You are a trainee accountant working for Jones Limited. The following statement of comprehensive income and statement of financial position extracts relate to Jones Limited. Jones Limited Statement of Comprehensive Income (Extracts) for the Year Ended 31 December 2018   GHȼm Operating profit 752 Finance costs (interest) (100) Profit before tax 652 Taxation (142) Profit after tax 510 Dividend (200) Retained profit 310   Jones Limited Statements of Financial Position as at 31 December   2017 2018   GHȼm GHȼm Assets     Non-current assets 2,600 3,314 Current assets     Inventory 1,346 1,390 Receivables 218 506 Cash 128 -   1,692 1,896 Assets 4,292 5,210 Equity and liabilities     Stated capital 200 400 Income surplus 2,492 2,802   2,692 3,202 Non-current liabilities     Loan note 200 300 Current liabilities     Payables 1,256 1,414 Taxation 144 294   1,400 1,708 Total equity & liabilities 4,292 5,210   Additional Information: Depreciation charge for the year 316 Profit on disposal of non-current asset 36 Carrying amount of asset sold 58 Required: Prepare the statement of cash flows for Jones Limited for the year ended 31 December 2018

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Jones Limited is a manufacturer of electrical goods. You are a trainee accountant working for Jones Limited. The following statement of comprehensive income and statement of financial position extracts relate to Jones Limited.

Jones Limited

Statement of Comprehensive Income (Extracts) for the Year Ended 31 December 2018

 

GHȼm

Operating profit

752

Finance costs (interest)

(100)

Profit before tax

652

Taxation

(142)

Profit after tax

510

Dividend

(200)

Retained profit

310

 

Jones Limited

Statements of Financial Position as at 31 December

 

2017

2018

 

GHȼm

GHȼm

Assets

 

 

Non-current assets

2,600

3,314

Current assets

 

 

Inventory

1,346

1,390

Receivables

218

506

Cash

128

-

 

1,692

1,896

Assets

4,292

5,210

Equity and liabilities

 

 

Stated capital

200

400

Income surplus

2,492

2,802

 

2,692

3,202

Non-current liabilities

 

 

Loan note

200

300

Current liabilities

 

 

Payables

1,256

1,414

Taxation

144

294

 

1,400

1,708

Total equity & liabilities

4,292

5,210

 

Additional Information:

Depreciation charge for the year

316

Profit on disposal of non-current asset

36

Carrying amount of asset sold

58

Required:

Prepare the statement of cash flows for Jones Limited for the year ended 31 December 2018

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