statement of Financial Poeition as at 31 December 2020 and 2021 2020 2021 Rm Rm Non-current assets Property, plant and equipment Land and buldings 310 310 Plant and machinery 325 314 524 635 Current assets Stock 35 Trade debtors 139 145 180 Current labilities Bank overdraft 56 89 Trade creditors 54 41 Corporaton tax 23 14 133 148 Nat current assets 47 682 32 Total asseta less current llabilities 656 Less Non-current labilibes Debenture loans 250 150 432 506 Equity Ordinary share capital 200 300 Share premium account 40 Revaluaton reserve 69 Retained profnt 123 197 432 506 During 2021, the business spent R67 milion on additional plants and machinery. There were no other non-current asset acquisitions or disposals. There was no share issue for cash during the year. The interest payable expense was equal in amount to the cash outfow. Required Prepare the Cash Flow Statement with the notes for Cheetahs Ltd for the year ended 31 December 2021.
statement of Financial Poeition as at 31 December 2020 and 2021 2020 2021 Rm Rm Non-current assets Property, plant and equipment Land and buldings 310 310 Plant and machinery 325 314 524 635 Current assets Stock 35 Trade debtors 139 145 180 Current labilities Bank overdraft 56 89 Trade creditors 54 41 Corporaton tax 23 14 133 148 Nat current assets 47 682 32 Total asseta less current llabilities 656 Less Non-current labilibes Debenture loans 250 150 432 506 Equity Ordinary share capital 200 300 Share premium account 40 Revaluaton reserve 69 Retained profnt 123 197 432 506 During 2021, the business spent R67 milion on additional plants and machinery. There were no other non-current asset acquisitions or disposals. There was no share issue for cash during the year. The interest payable expense was equal in amount to the cash outfow. Required Prepare the Cash Flow Statement with the notes for Cheetahs Ltd for the year ended 31 December 2021.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...
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![Statement of Financial Position as at 31 December 2020 and 2021
2020
2021
Rm
Rm
Non-current assets
Property, plant and equipment
Land and buldings
310
310
Plant and machinery
325
314
635
624
Current assets
Stock
41
35
Trade debtors
139
145
180
180
Current llabilities
Bank overdraft
56
89
Trade creditors
54
41
Сoгрoraton tax
23
18
148
Net current assets
32
Total assets less current llablities
682
656
Less Non-current llabilites
Debenture loans
250
150
432
505
Equity
Ordinary share capital
200
300
Share premlum account
40
Revaluation reserve
69
Retained profit
123
197
432
505
During 2021, the business spent R67 millon on additional plants and machinery. There were
no other non-current asset acquisitions or disposals. There was no share issue for cash during
the year. The Interest payable expense was equal in amount to the cash outfow.
Required:
Prepare the Cash Flow Statement with the notes for Cheetahs Ltd for the year ended 31
December 2021.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d08533c-283b-4470-9895-5351c19ede40%2F2eeec2cd-384b-4f04-8072-a5a1065924ad%2F9bb3ag_processed.png&w=3840&q=75)
Transcribed Image Text:Statement of Financial Position as at 31 December 2020 and 2021
2020
2021
Rm
Rm
Non-current assets
Property, plant and equipment
Land and buldings
310
310
Plant and machinery
325
314
635
624
Current assets
Stock
41
35
Trade debtors
139
145
180
180
Current llabilities
Bank overdraft
56
89
Trade creditors
54
41
Сoгрoraton tax
23
18
148
Net current assets
32
Total assets less current llablities
682
656
Less Non-current llabilites
Debenture loans
250
150
432
505
Equity
Ordinary share capital
200
300
Share premlum account
40
Revaluation reserve
69
Retained profit
123
197
432
505
During 2021, the business spent R67 millon on additional plants and machinery. There were
no other non-current asset acquisitions or disposals. There was no share issue for cash during
the year. The Interest payable expense was equal in amount to the cash outfow.
Required:
Prepare the Cash Flow Statement with the notes for Cheetahs Ltd for the year ended 31
December 2021.
![Cheetahs Limited's Statement of Comprehensive Income for the year ended 31 December
2021 and the Statement of Financial Position as at 31 December 2021 and 2020 are as
follows:
Statement of Comprehenslve Income
R milon (m)
Revenue
723
Less Cost of sales
(453)
Gross proft
270
Less Distribution costs
71
Administrative expenses
30 (101)
169
Rental Income
27
Operating proft
Less Interest payable
196
(26)
Profit on ordinary activitles before taxation
170
Less Tax on profit on ordinary activitles
(36)
Profit on ordinary activitles after taxation
134
Retained profit brought forward trom last year
123
257
Less Dividend pald on ordinary shares
(60)
Retained profit carried forward
197](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d08533c-283b-4470-9895-5351c19ede40%2F2eeec2cd-384b-4f04-8072-a5a1065924ad%2Fayn5mj_processed.png&w=3840&q=75)
Transcribed Image Text:Cheetahs Limited's Statement of Comprehensive Income for the year ended 31 December
2021 and the Statement of Financial Position as at 31 December 2021 and 2020 are as
follows:
Statement of Comprehenslve Income
R milon (m)
Revenue
723
Less Cost of sales
(453)
Gross proft
270
Less Distribution costs
71
Administrative expenses
30 (101)
169
Rental Income
27
Operating proft
Less Interest payable
196
(26)
Profit on ordinary activitles before taxation
170
Less Tax on profit on ordinary activitles
(36)
Profit on ordinary activitles after taxation
134
Retained profit brought forward trom last year
123
257
Less Dividend pald on ordinary shares
(60)
Retained profit carried forward
197
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