The following are extracts from the financial records of ABC Ltd for the year ended 31 August 2021. ABC Ltd Extract from the Statement of financial statement as at 31 Augqust 2021 31 August 2021 31 August 2020 - R R Bank 50 000 20 000 Inventories - trade goods 22 000 30 000 Trade receivables 77 000 69 000 Trade payables Prepaid expenses: 44 000 46 000 1 800 1 200 Accrued expenses: interest 1 000 2 400 Accrued expenses; other 5 700 4 400 SARS - income tax payable 8 000 3 000 Dividends payable 1 500 2 700 ABC Ltd Extract from the Statement of profit or loss and other comprehensive income for the year ended 31 August 2021 R Sales 592 000 Cost of sales (301 000) 291 000 Gross profit Profit on sale of Equipment Depreciation Interest expense 9 000 41 000 2 600 Income tax expense 15 200 Profit for the year 110 300 Additional information: 1. The dividends declared for the current year is R2 400. Required: Prepare only the "Cash flows from operating activities" section of the statement of cash flows for ABC Ltd for the year ended 31 August 2021. Use the indirect method. Show all workings. Where applicable, round off calculations to the nearest Rand.

The following are extracts from the financial records of ABC Ltd for the year ended 31 August 2021. ABC Ltd Extract from the Statement of financial statement as at 31 Augqust 2021 31 August 2021 31 August 2020 - R R Bank 50 000 20 000 Inventories - trade goods 22 000 30 000 Trade receivables 77 000 69 000 Trade payables Prepaid expenses: 44 000 46 000 1 800 1 200 Accrued expenses: interest 1 000 2 400 Accrued expenses; other 5 700 4 400 SARS - income tax payable 8 000 3 000 Dividends payable 1 500 2 700 ABC Ltd Extract from the Statement of profit or loss and other comprehensive income for the year ended 31 August 2021 R Sales 592 000 Cost of sales (301 000) 291 000 Gross profit Profit on sale of Equipment Depreciation Interest expense 9 000 41 000 2 600 Income tax expense 15 200 Profit for the year 110 300 Additional information: 1. The dividends declared for the current year is R2 400. Required: Prepare only the "Cash flows from operating activities" section of the statement of cash flows for ABC Ltd for the year ended 31 August 2021. Use the indirect method. Show all workings. Where applicable, round off calculations to the nearest Rand.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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