Homework Help is Here – Start Your Trial Now!
Business
Accounting
Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: e the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 pember 2021. Adjustments for non cash Items: Depreciation on buildings ORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Depreciation on plant and machinery PSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) ATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 $1,080,000 $ (64,000) $ (192,000) es 3312 000 2 800 000 Cash Flow from Operations Less: Interest Paid st of sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 ss profit 1 696 000 1240 000 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments ing and administrative expenses (672 000) (568 000) Ordinary share capital $ (352,000) $ (304,000) $ (240,000) erating profit Retained earnings 896 000 480 000 1 024 000 672 000 erest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Et before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable Dividend Paid $ (240,000) $ 320,000 128 000 64 000 (256 000) (172 000) Issuance of Long term Loans Dividends payable t after tax 704 000 468 000 208 000 160 00 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000

Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: e the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 pember 2021. Adjustments for non cash Items: Depreciation on buildings ORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Depreciation on plant and machinery PSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) ATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 $1,080,000 $ (64,000) $ (192,000) es 3312 000 2 800 000 Cash Flow from Operations Less: Interest Paid st of sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 ss profit 1 696 000 1240 000 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments ing and administrative expenses (672 000) (568 000) Ordinary share capital $ (352,000) $ (304,000) $ (240,000) erating profit Retained earnings 896 000 480 000 1 024 000 672 000 erest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Et before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable Dividend Paid $ (240,000) $ 320,000 128 000 64 000 (256 000) (172 000) Issuance of Long term Loans Dividends payable t after tax 704 000 468 000 208 000 160 00 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Use the information provided (first picture) to calculate the inventory turnover ratios for 2021 and put your answer in the template provided (second picture)

 

Chelsea Limited Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: 2021 (R) 2020 (R) INFORMATION Depreciation on buildings 2$ 96,000 Depreciation on plant and machinery $ 160,000 $ 256,000 Land and buildings 1 760 000 1 504 000 PEPSICO LIMITED Changes in Working Capital: Plant and machinery 992 000 848 000 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories 16,000 $ (152,000) $ (64,000) $ (200,000) Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Sales 3 312 000 2 800 000 Inventories 384 000 400 000 Cash Flow from Operations $1,080,000 $ (64,000) $ (192,000) Less: Interest Paid Cost sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Gross profit 1 696 000 1 240 000 Cash and cash equivalents 72 000 64 000 Net Cash Flow from Operating Activities $ 824,000 Cash Flow from Investing Activities: Purchase of Land and Building Selling and administrative expenses (672 000) (568 000) Ordinary share capital 1 600 000 1 600 000 $ (352,000) $ (304,000) $ (240,000) Operating profit Retained earnings 896 000 480 000 Purchase of Plant and Machinery 1 024 000 672 000 Purchase of Investments Interest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Profit before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable 128 000 64 000 Dividend Paid $ (240,000) Tax (256 000) (172 000) Issuance of Long term Loans $ 320,000 Profit after tax 704 000 468 000 Dividends payable 208 000 160 000 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning Cash Balance, Ending 64,000 2$ 72,000
Transcribed Image Text:Chelsea Limited Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: 2021 (R) 2020 (R) INFORMATION Depreciation on buildings 2$ 96,000 Depreciation on plant and machinery $ 160,000 $ 256,000 Land and buildings 1 760 000 1 504 000 PEPSICO LIMITED Changes in Working Capital: Plant and machinery 992 000 848 000 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories 16,000 $ (152,000) $ (64,000) $ (200,000) Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Sales 3 312 000 2 800 000 Inventories 384 000 400 000 Cash Flow from Operations $1,080,000 $ (64,000) $ (192,000) Less: Interest Paid Cost sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Gross profit 1 696 000 1 240 000 Cash and cash equivalents 72 000 64 000 Net Cash Flow from Operating Activities $ 824,000 Cash Flow from Investing Activities: Purchase of Land and Building Selling and administrative expenses (672 000) (568 000) Ordinary share capital 1 600 000 1 600 000 $ (352,000) $ (304,000) $ (240,000) Operating profit Retained earnings 896 000 480 000 Purchase of Plant and Machinery 1 024 000 672 000 Purchase of Investments Interest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Profit before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable 128 000 64 000 Dividend Paid $ (240,000) Tax (256 000) (172 000) Issuance of Long term Loans $ 320,000 Profit after tax 704 000 468 000 Dividends payable 208 000 160 000 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning Cash Balance, Ending 64,000 2$ 72,000
Inventory turnover II
Transcribed Image Text:Inventory turnover II
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Forecasting Financial Statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS