On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the followingASSETS20112010Cash70004800Accounts Receivable85009500Merchandise Inventory3250033200Equipment3010024000TOTAL7810071500 EQUITIES Accumulated Depreciation Equipment61004800Accounts Payable1680019400Mortgage Payable600010000Share Capital – Rs. 10 per share3000025000Share Premium2500 Retained Earnings1670012300TOTAL7810071500Additional Information:1. A fully depreciated equipment that costs of Rs. 800 was discarded and related accounts were closed.2. Cash dividend of Rs. 4,000 were declared and paid.Required: Prepare a Cash Flow Statement. Showing Operating, Investing, Financing activities.

Profit for the year Retained earnings 31-12-2010 a $ 12,300.00 Dividend paid b $…

Answered: On December 31, 2010 and 2011 Balance…

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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On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following

ASSETS	2011	2010
Cash	7000	4800
Accounts Receivable	8500	9500
Merchandise Inventory	32500	33200
Equipment	30100	24000
TOTAL	78100	71500

EQUITIES
Accumulated Depreciation Equipment	6100	4800
Accounts Payable	16800	19400
Mortgage Payable	6000	10000
Share Capital – Rs. 10 per share	30000	25000
Share Premium	2500
Retained Earnings	16700	12300
TOTAL	78100	71500

Additional Information:
1. A fully depreciated equipment that costs of Rs. 800 was discarded and related accounts were closed.
2. Cash dividend of Rs. 4,000 were declared and paid.

Required: Prepare a Cash Flow Statement. Showing Operating, Investing, Financing activities.

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