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Niagara Ltd Income Statement for the year ended 31 Dec 2020 1 000 650 350 Sales Cost of goods sold Gross Profit Expenses Depreciation expenses Sales and general expenses EBIT Interest expense EBT Income tax expense Net profit Assets Current Assets Cash Accounts receivable Inventory Question 1 Total Current Assets Non-current Assets Machinery Accumulated depreciation Total Assets Liabilities and Equity -100 -100 150 -50 100 -40 60 Niagara Ltd Balance Sheet as at 31 Dec 2020 700 (150) 2020 60 520 770 1350 550 1900 550 (50) 2019 50 500 750 1300 500 1800

Niagara Ltd Income Statement for the year ended 31 Dec 2020 1 000 650 350 Sales Cost of goods sold Gross Profit Expenses Depreciation expenses Sales and general expenses EBIT Interest expense EBT Income tax expense Net profit Assets Current Assets Cash Accounts receivable Inventory Question 1 Total Current Assets Non-current Assets Machinery Accumulated depreciation Total Assets Liabilities and Equity -100 -100 150 -50 100 -40 60 Niagara Ltd Balance Sheet as at 31 Dec 2020 700 (150) 2020 60 520 770 1350 550 1900 550 (50) 2019 50 500 750 1300 500 1800

FINANCIAL ACCOUNTING
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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Prepare an indirect Cash flow statement

es Niagara Ltd Income Statement for the year ended 31 Dec 2020 1 000 650 350 Sales Cost of goods sold Gross Profit Expenses Depreciation expenses Sales and general expenses EBIT Interest expense EBT Income tax expense Net profit Assets Current Assets Cash Accounts receivable Inventory Question 1 Total Current Assets Non-current Assets Machinery Accumulated depreciation Total Assets Liabilities and Equity Current Liabilities -100 -100 150 -50 100 -40 60 Niagara Ltd Balance Sheet as at 31 Dec 2020 700 (150) 2020 60 520 770 1350 550 1900 550 (50) 2019 50 500 750 1300 500 1800
Transcribed Image Text:es Niagara Ltd Income Statement for the year ended 31 Dec 2020 1 000 650 350 Sales Cost of goods sold Gross Profit Expenses Depreciation expenses Sales and general expenses EBIT Interest expense EBT Income tax expense Net profit Assets Current Assets Cash Accounts receivable Inventory Question 1 Total Current Assets Non-current Assets Machinery Accumulated depreciation Total Assets Liabilities and Equity Current Liabilities -100 -100 150 -50 100 -40 60 Niagara Ltd Balance Sheet as at 31 Dec 2020 700 (150) 2020 60 520 770 1350 550 1900 550 (50) 2019 50 500 750 1300 500 1800
Liabilities and Equity Current Liabilities Notes Payables to bank Accounts payable Interest payable Total current liabilities Non-current liabilities Long term debt Deferred income tax Shareholders' equity Equity contribution Retained Earnings Total current liabilities and equity 1 Additional information: The company paid dividends of R30 during 2020 Required 75 615 20 710 350 310 400 130 1900 Prepare the cash flow statement for Niagara Itd for 31st Dec 2020 100 590 10 700 300 300 400 100 1800
Transcribed Image Text:Liabilities and Equity Current Liabilities Notes Payables to bank Accounts payable Interest payable Total current liabilities Non-current liabilities Long term debt Deferred income tax Shareholders' equity Equity contribution Retained Earnings Total current liabilities and equity 1 Additional information: The company paid dividends of R30 during 2020 Required 75 615 20 710 350 310 400 130 1900 Prepare the cash flow statement for Niagara Itd for 31st Dec 2020 100 590 10 700 300 300 400 100 1800
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