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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Non-current assets Land and buildings Plant and machinery Investments Current assets Inventories Accounts receivable Cash and cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Current liabilities Accounts payable Company tax payable Shareholders for dividends Total equity and liabilities Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery 2022 R 8 400 000 4 950 000 2 790 000 660 000 2 430 000 1 080 000 1 146 000 204 000 10 830 000 7 020 000 4 500 000 2 520 000 1 800 000 2010 000 1 080 000 360 000 570 000 10 830 000 Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit The market price of each Topaz Limited share was R10 on 31 December 2022 2021 R 6 600 000 4230 000 2370 000 0 2040 000 1 140 000 720 000 180 000 8 640 000 5 850 000 4 500 000 1350 000 900 000 1890 000 1260 000 180 000 450 000 8 640 000 R270 000 R450 000

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Non-current assets Land and buildings Plant and machinery Investments Current assets Inventories Accounts receivable Cash and cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Current liabilities Accounts payable Company tax payable Shareholders for dividends Total equity and liabilities Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery 2022 R 8 400 000 4 950 000 2 790 000 660 000 2 430 000 1 080 000 1 146 000 204 000 10 830 000 7 020 000 4 500 000 2 520 000 1 800 000 2010 000 1 080 000 360 000 570 000 10 830 000 Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit The market price of each Topaz Limited share was R10 on 31 December 2022 2021 R 6 600 000 4230 000 2370 000 0 2040 000 1 140 000 720 000 180 000 8 640 000 5 850 000 4 500 000 1350 000 900 000 1890 000 1260 000 180 000 450 000 8 640 000 R270 000 R450 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Non-current assets Land and buildings Plant and machinery Investments Current assets Inventories Accounts receivable Cash and cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Current liabilities Accounts payable Company tax payable Shareholders for dividends Total equity and liabilities Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery 2022 R 8 400 000 4 950 000 790 000 2 660 000 2 430 000 1 080 000 1 146 000 204 000 10 830 000 7 020 000 4 500 000 2 520 000 1 800 000 2010 000 1 080 000 360 000 570 000 10 830 000 Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit. 1 The market price of each Topaz Limited share was R10 on 31 December 2022. 2021 R 6 600 000 4 230 000 2370 000 0 2040 000 1 140 000 720 000 180 000 8640 000 5 850 000 4 500 000 1350 000 900 000 1890 000 1 260 000 180 000 450 000 8640 000 R270 000 R450 000
Transcribed Image Text:STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Non-current assets Land and buildings Plant and machinery Investments Current assets Inventories Accounts receivable Cash and cash equivalents EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Current liabilities Accounts payable Company tax payable Shareholders for dividends Total equity and liabilities Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery 2022 R 8 400 000 4 950 000 790 000 2 660 000 2 430 000 1 080 000 1 146 000 204 000 10 830 000 7 020 000 4 500 000 2 520 000 1 800 000 2010 000 1 080 000 360 000 570 000 10 830 000 Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit. 1 The market price of each Topaz Limited share was R10 on 31 December 2022. 2021 R 6 600 000 4 230 000 2370 000 0 2040 000 1 140 000 720 000 180 000 8640 000 5 850 000 4 500 000 1350 000 900 000 1890 000 1 260 000 180 000 450 000 8640 000 R270 000 R450 000
Study the information provided below and prepare the Cash Flow Statement of Topaz Limited for the year ended 31 December 2022. INFORMATION TOPAZ LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 Sales Cost of sales Gross profit Selling and administrative expenses Operating profit Interest expense Profit before tax Tax Profit after tax R 9 300 000 (4 530 000) 4 770 000 (1 890 000) 2 880 000 (180 000) 2 700 000 (720 000) 1 980 000
Transcribed Image Text:Study the information provided below and prepare the Cash Flow Statement of Topaz Limited for the year ended 31 December 2022. INFORMATION TOPAZ LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 Sales Cost of sales Gross profit Selling and administrative expenses Operating profit Interest expense Profit before tax Tax Profit after tax R 9 300 000 (4 530 000) 4 770 000 (1 890 000) 2 880 000 (180 000) 2 700 000 (720 000) 1 980 000
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