REQUIRED Prepare the Cash Flow Statement of Elsies Limited for the year ended 31 December 2023. INFORMATION Extracts of the financial statements of Elsies Limited are as follows: Elsies Limited Statement of Financial Position as at 31 December: Assets Property, plant and equipment Investments Inventory Accounts receivable Cash and cash equivalents 2023 (R) 2022 (R) 3 125 000 2 500 000 175 000 1 075 000 950 000 200 000 1 025 000 875 000 250 000 175 000 5 575 000 4 775 000 Equity and liabilities Ordinary share capital (155 000 shares) 1 550 000 1 550 000 Retained earnings 1 500 000 1 250 000 Non-current liabilities 1 800 000 1 675 000 Accounts payable 600 000 135 000 Dividends payable 100 000 125 000 Company tax payable 25 000 40 000 5 575 000 4 775 000 Statement of Comprehensive Income for the year ended 31 December 2023 Sales Cost of sales Depreciation Operating profit Interest expense Company tax R 5 500 000 3 250 000 375 000 825 000 225 000 200 000

REQUIRED Prepare the Cash Flow Statement of Elsies Limited for the year ended 31 December 2023. INFORMATION Extracts of the financial statements of Elsies Limited are as follows: Elsies Limited Statement of Financial Position as at 31 December: Assets Property, plant and equipment Investments Inventory Accounts receivable Cash and cash equivalents 2023 (R) 2022 (R) 3 125 000 2 500 000 175 000 1 075 000 950 000 200 000 1 025 000 875 000 250 000 175 000 5 575 000 4 775 000 Equity and liabilities Ordinary share capital (155 000 shares) 1 550 000 1 550 000 Retained earnings 1 500 000 1 250 000 Non-current liabilities 1 800 000 1 675 000 Accounts payable 600 000 135 000 Dividends payable 100 000 125 000 Company tax payable 25 000 40 000 5 575 000 4 775 000 Statement of Comprehensive Income for the year ended 31 December 2023 Sales Cost of sales Depreciation Operating profit Interest expense Company tax R 5 500 000 3 250 000 375 000 825 000 225 000 200 000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 55PSB: Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance...

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