The following are the statement of comprehensive income and financial position of Jones Limited as at December 31st, 2019: Jones Limited Statement of Comprehensive Income for the Year Ended 31st December 2019     GH₵ GH₵ Net profit   45,200         Jones Limited Statement of Financial Position as at 31st December 2019         31/1/2019   31/1/2018     GH₵   GH₵ Non-current assets   209,600   150,000 Accumulated depreciation   (38,000)   (24,000)     171,600   126,000 Current assets         Inventory 19,600   21,000   Receivables 20,400   17,200   Bank 11,400   10,000   Cash 8,400   3,600       59,800   51,800 Total assets   231,400   177,800 Equity capital         Stated capital 103,600   42,400   Income surplus 56,600 160,200 45,200 87,600 Noncurrent liabilities         Long term loan   40,000   60,000 Current liabilities         Trade payable 20,000   21,400   Dividend payable 6,000   5,400   Taxation 5,200 31,200 3,400 30,200 Total equity and liabilities   231,400   177,800   Notes During the year plant which originally cost GH₵16,000 and with depreciation of GH₵3,000 was disposed for GH₵12,000. Required: (a)(b) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31st December, 2018.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following are the statement of comprehensive income and financial position of Jones Limited as at December 31st, 2019:

Jones Limited

Statement of Comprehensive Income for the Year Ended 31st December 2019

 

 

GH₵

GH₵

Net profit

 

45,200

 

 

 

 

Jones Limited

Statement of Financial Position as at 31st December 2019

 

 

 

 

31/1/2019

 

31/1/2018

 

 

GH₵

 

GH₵

Non-current assets

 

209,600

 

150,000

Accumulated depreciation

 

(38,000)

 

(24,000)

 

 

171,600

 

126,000

Current assets

 

 

 

 

Inventory

19,600

 

21,000

 

Receivables

20,400

 

17,200

 

Bank

11,400

 

10,000

 

Cash

8,400

 

3,600

 

 

 

59,800

 

51,800

Total assets

 

231,400

 

177,800

Equity capital

 

 

 

 

Stated capital

103,600

 

42,400

 

Income surplus

56,600

160,200

45,200

87,600

Noncurrent liabilities

 

 

 

 

Long term loan

 

40,000

 

60,000

Current liabilities

 

 

 

 

Trade payable

20,000

 

21,400

 

Dividend payable

6,000

 

5,400

 

Taxation

5,200

31,200

3,400

30,200

Total equity and liabilities

 

231,400

 

177,800

 

Notes

  • During the year plant which originally cost GH₵16,000 and with depreciation of GH₵3,000 was disposed for GH₵12,000.

Required:

(a)(b) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31st December, 2018.

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