The following additional information is available.(i) Property, plant and equipmentAccumulatedCarryingdepreciationamountK000K'000(9,500)24,1006,700At 30 September 2020Additions to right of use assetsPurchase of new plantDisposal of propertyDepreciation for the year8,3001,000(4,000)(2,500)(2,500)At 30 September 2021(11,000)32,600The property disposed of was sold for K8.1 million.(ii) Investments/investment income:During the year an investment that had a carrying amount of K3 million was sold for K3.4million. No investments were purchased during the year.Investment income consists of.Year to 30 September.20212020K'000K'000Dividends received200250Profit on sale of investment400Increases in fair value5004501,100700() On 1 April 2021 there was a bonus issue of shares that was funded first from the sharepremium account and then from the revaluation surplus account. This was followedimmediately on the same day in April by an issue of shares for cash at par.(iv) The movement in the product warranty provision has been included in cost of sales.Required.(a) Prepare a statement of cash flows for Jabo Co from the cash from operating activities linefor the year ended 30 September 2021. The cash flows from operating activities figure isK1.7 million and has been adjusted for depreciation, interest expense, investment incomeand profit on the sale of property.(b) Calculate the EPS for Mocha Co for the period ending 30 September 2020 and 2021.CostK'00033,6006,7008,300(5,000)43,600 The following information relates to the draft financial statements of Jabo, Ltd:SUMMARISED STATEMENTS OF FINANCIAL POSITION AS AT 30 SEPTEMBER20212020К000К000ASSETSNon-current assets32,60024,100Property, plant and equipmentFinancial asset: equity investments4,5007,000Current assetsInventories10,2007,200Trade receivables3,5003,700nil1,400Cash and cash equivalentsTotal assets50,80043,400EQUITY AND LIABILITIESEquity14,0008,000nilEquity shares of K1 eachShare premiumRevaluation reserveRetained earnings2,0002,0003,60013,00010,10029,00023,700Non-current liabilitiesLease liability7,0006,900Deferred tax1,300900Current liabilities:Tax1,0001,200Bank overdraft2,900nilProvision for product warranties1,6004,000Lease liability4,8002,100Trade payables3,2004,600Total equity and liabilities50,800SUMMARISED STATEMENTS OF PROFIT OR LOSS FOR THE YEARS ENDED 30 SEPTEMBER:20212020К000K000Revenue58,50041,000Cost of sales(46,500)(30,000)Gross profit12,00011,000Operating expenses(8,700)(4,500)1,100700Investment incomeFinance costs(500)(400)Profit before tax3,9006,800Income tax expense(1,000)(1,800)Profit for the year2,9005,00043,400

Earning per share: It is the most important ratio as it measures the profitability of a firm from…

llowing additional information is available. (1) Property, plant and equipment Accumulated Carrying depreciation amount K000 K000 (9,500) 24,100 6.700 8,300 At 30 September 2020 Additions to right of use assets Purchase of new plant Disposal of property Depreciation for the year At 30 September 2021 1,000 (4.000) (2,500) (2,500) (11,000) 32,600 the property disposed of was sold for KB.1 million. (i) Investments/investment income: uring the year an investment that had a carrying amount of K3 million was sold for K3.4 illion. No investments were purchased during the year. vestment income consists of: Year to 30 September. 2021 2020 K000 K000 Dividends received 200 250 Profit on sale of investment 400 600 450 Cost К000 33,600 6,700 8,300 (5,000) 43,600

llowing additional information is available. (1) Property, plant and equipment Accumulated Carrying depreciation amount K000 K000 (9,500) 24,100 6.700 8,300 At 30 September 2020 Additions to right of use assets Purchase of new plant Disposal of property Depreciation for the year At 30 September 2021 1,000 (4.000) (2,500) (2,500) (11,000) 32,600 the property disposed of was sold for KB.1 million. (i) Investments/investment income: uring the year an investment that had a carrying amount of K3 million was sold for K3.4 illion. No investments were purchased during the year. vestment income consists of: Year to 30 September. 2021 2020 K000 K000 Dividends received 200 250 Profit on sale of investment 400 600 450 Cost К000 33,600 6,700 8,300 (5,000) 43,600

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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