Question 1, The following information is relevant for the year ended 31 December, 2022 for Grace Ltd 2022 GH¢'000 2021 GH¢'000 Cash 21,000 10,000 Account receivables 30,000 20,000 Inventories 26,000 30,000 PPE 70,000 50,000 Accumulated depreciation (10.000) (5.000) 137.000 105.000 Account payable 9,000 15,000 Accrued liability 2,000 Ordinary Capital 90,000 60,000 Retained earnings 36,000 30,000 137.000 105,000 Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022 GH¢'000 Sales 140,000 Cost of sales (100,000) 40,000 Operating expenses other than depreciation Depreciation 25,000 5.000 (30,000) Net profit 10.000 Additional information: 1. P&M bought for cash in 2022 GH¢20m 2. Share issued for cash GH¢30m 3. Cash dividend paid GH¢4m Prepare a cash flow statement for the year ended 2022.
Question 1, The following information is relevant for the year ended 31 December, 2022 for Grace Ltd 2022 GH¢'000 2021 GH¢'000 Cash 21,000 10,000 Account receivables 30,000 20,000 Inventories 26,000 30,000 PPE 70,000 50,000 Accumulated depreciation (10.000) (5.000) 137.000 105.000 Account payable 9,000 15,000 Accrued liability 2,000 Ordinary Capital 90,000 60,000 Retained earnings 36,000 30,000 137.000 105,000 Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022 GH¢'000 Sales 140,000 Cost of sales (100,000) 40,000 Operating expenses other than depreciation Depreciation 25,000 5.000 (30,000) Net profit 10.000 Additional information: 1. P&M bought for cash in 2022 GH¢20m 2. Share issued for cash GH¢30m 3. Cash dividend paid GH¢4m Prepare a cash flow statement for the year ended 2022.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
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Transcribed Image Text:Question 1,
The following information is relevant for the year ended 31 December, 2022 for Grace Ltd
2022
GH¢'000
2021
GH¢'000
Cash
21,000
10,000
Account receivables
30,000
20,000
Inventories
26,000
30,000
PPE
70,000
50,000
Accumulated depreciation
(10.000)
(5.000)
137.000
105.000
Account payable
9,000
15,000
Accrued liability
2,000
Ordinary Capital
90,000
60,000
Retained earnings
36,000
30,000
137.000
105,000
Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022
GH¢'000
Sales
140,000
Cost of sales
(100,000)
40,000
Operating expenses other than depreciation
Depreciation
25,000
5.000
(30,000)
Net profit
10.000
Additional information:
1. P&M bought for cash in 2022 GH¢20m
2. Share issued for cash GH¢30m
3. Cash dividend paid GH¢4m
Prepare a cash flow statement for the year ended 2022.
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