Equity and liabilities 2023 2022 R R Equity 1 872 000 1 560 000 Ordinary share capital (300 000 shares) 1 200 000 1 200 000 Retained earnings 672 000 360 000 Non-current liabilities 480 000 240 000 Long-term loan Current liabilities Accounts payable Company tax payable Dividends payable Total equity and liabilities 480 000 240 000 540 000 504 000 288 000 336 000 96 000 48 000 156 000 120 000 2 892 000 2 304 000 Additional information Selling and administrative expenses included the following: Depreciation on buildings Depreciation on plant and machinery There were no disposals of property, plant and equipment during 2023. Total dividends for the year ended 31 December 2023 amounted to R216 000. Ninety percent (90%) of all purchases and sales of inventories are on credit. R 72 000 120 000 REQUIRED Prepare the Cash Flow Statement of Concha Limited for the year ended 31 December 2023. INFORMATION CONCHA LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 R Sales Cost of sales Gross profit Selling and administrative expenses Operating profit Interest expense Profit before tax Company tax Profit after tax STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2 484 000 (1 212 000) 1 272 000 (504 000) 768 000 (48 000) 720 000 (192 000) 528 000 Assets 2023 R 2022 R Non-current assets Land and buildings Plant and machinery Investments 2 244 000 1 764 000 1 320 000 1 128 000 744 000 636 000 180 000 0 Current assets 648 000 540 000 Inventories 288 000 300 000 Accounts receivable 306 000 192 000 Cash and cash equivalents 54 000 48 000 Total assets 2 892 000 2 304 000
Equity and liabilities 2023 2022 R R Equity 1 872 000 1 560 000 Ordinary share capital (300 000 shares) 1 200 000 1 200 000 Retained earnings 672 000 360 000 Non-current liabilities 480 000 240 000 Long-term loan Current liabilities Accounts payable Company tax payable Dividends payable Total equity and liabilities 480 000 240 000 540 000 504 000 288 000 336 000 96 000 48 000 156 000 120 000 2 892 000 2 304 000 Additional information Selling and administrative expenses included the following: Depreciation on buildings Depreciation on plant and machinery There were no disposals of property, plant and equipment during 2023. Total dividends for the year ended 31 December 2023 amounted to R216 000. Ninety percent (90%) of all purchases and sales of inventories are on credit. R 72 000 120 000 REQUIRED Prepare the Cash Flow Statement of Concha Limited for the year ended 31 December 2023. INFORMATION CONCHA LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 R Sales Cost of sales Gross profit Selling and administrative expenses Operating profit Interest expense Profit before tax Company tax Profit after tax STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2 484 000 (1 212 000) 1 272 000 (504 000) 768 000 (48 000) 720 000 (192 000) 528 000 Assets 2023 R 2022 R Non-current assets Land and buildings Plant and machinery Investments 2 244 000 1 764 000 1 320 000 1 128 000 744 000 636 000 180 000 0 Current assets 648 000 540 000 Inventories 288 000 300 000 Accounts receivable 306 000 192 000 Cash and cash equivalents 54 000 48 000 Total assets 2 892 000 2 304 000
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter6: Statement Of Cash Flows
Section: Chapter Questions
Problem 20E
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