Information for questions 12 and 13The following are extracts from the financial statements of a company for the two years ended31 December 2016 and 2017.Statement of financial position as at 31 DecemberInventoryTrade receivablesCash and bank balancesBank overdraftTrade payables2016£000590275252001,2181,5362017£000465425764507102,728Non-Current assetsNon-Current liabilities0300Issued £1 Ordinary Shares5,0005,500The income statement for the year ended 31 December 2017 shows an operating profit ofc) £1,265,000d) £1,815,000£1,500,000 after charging depreciation of £600,000 and a profit on disposal of a non-currentasset of £52,000.Q12. The change in the company's cash and cash equivalents for the year ended 31 December 2017 was:a) Outflow £199,000b) Inflow £1 16,000c) Outflow £89,000d) Inflow £51,000Q13. The cash flow from operations of the company for the year ended 31 December 2017 was:a) £1,515,000b) £1,619,000

A statement of cash flows is prepared at the end of the year to indicate the change in cash during…

Answered: Q12. The change in the company's cash…

Business

Accounting

Q12. The change in the company's cash and cash equivalents for the year ended 31 December 2017 was:

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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