The following are the statements of comprehensive income and financial positions of Green Limited: Green Limited Statement of Comprehensive Income for the Year Ended 31 December 2018 GHC Sales Less: Cost of goods sold Opening stock Purchases Less closing stock Gross profit Less operating expenses Administrative expenses Depreciation Selling & distribution expenses Profit before interest and tax Interest Profit before tax Corporate tax Profit after interest & tax Non-current assets Plant & machinery Motor vehicles Equipment Current assets Inventory Receivables Cash & bank Total assets Financed by: Stated capital Incor surplus Green Limited Statement of Financial Position as at 31 December 2018 31/1/2018 Non-current liabilities 5% Debenture Current liabilities Creditors Total equity and liabilities 24,000 20,000 48,000 55,000 2,000 20,000 8,000 10,000 38,000 92,000 130,000 16,500 48,000 64,500 (24,000) $7,000 46,000 27,000 130,000 (9,000) (4,000) (10,000) 16,500 23,000 34,000 GHC $6,000 40,000 5,000 (40,500) 45,500 31/12/017 (23,000) 22,500 (5,000) 17,500 6,000 11.500 15,000 $,000 12,000 35,000 73,500 108.500 45,000 35,200 28,300 108,500 C Required: (a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31 December 2018.
The following are the statements of comprehensive income and financial positions of Green Limited: Green Limited Statement of Comprehensive Income for the Year Ended 31 December 2018 GHC Sales Less: Cost of goods sold Opening stock Purchases Less closing stock Gross profit Less operating expenses Administrative expenses Depreciation Selling & distribution expenses Profit before interest and tax Interest Profit before tax Corporate tax Profit after interest & tax Non-current assets Plant & machinery Motor vehicles Equipment Current assets Inventory Receivables Cash & bank Total assets Financed by: Stated capital Incor surplus Green Limited Statement of Financial Position as at 31 December 2018 31/1/2018 Non-current liabilities 5% Debenture Current liabilities Creditors Total equity and liabilities 24,000 20,000 48,000 55,000 2,000 20,000 8,000 10,000 38,000 92,000 130,000 16,500 48,000 64,500 (24,000) $7,000 46,000 27,000 130,000 (9,000) (4,000) (10,000) 16,500 23,000 34,000 GHC $6,000 40,000 5,000 (40,500) 45,500 31/12/017 (23,000) 22,500 (5,000) 17,500 6,000 11.500 15,000 $,000 12,000 35,000 73,500 108.500 45,000 35,200 28,300 108,500 C Required: (a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31 December 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are the statements of comprehensive income and financial positions of
Green Limited:
Green Limited
Statement of Comprehensive Income for the Year Ended 31 December 2018
GHC
Sales
Less: Cost of goods sold
Opening stock
Purchases
Less closing stock
Gross profit
Less operating expenses
Administrative expenses
Depreciation
Selling & distribution expenses
Profit before interest and tax
Interest
Profit before tax
Corporate tax
Profit after interest & tax
Non-current assets
Plant & machinery
Motor vehicles
Equipment
Current assets
Inventory
Receivables
Cash & bank
Total assets
Financed by:
Stated capital
Income surplus
Non-current liabilities
Green Limited
Statement of Financial Position as at 31 December 2018
31/1/2018
5% Debenture
Current liabilities
Creditors
Total equity and liabilities
24,000
20,000
48,000
55,000
2,000
20,000
8,000
10,000
38,000
92,000
130,000
16,500
48,000
$7,000
46,000
27,000
130,000
64,500
(24,000)
(9,000)
(4,000)
(10,000)
16,500
23,000
34,000
GHC
$6,000
40,000
5,000
(40,500)
45,500
(23,000)
22,500
(5,000)
31/12/017
17,500
6,000
11.500
15,000
8,000
12,000
35,000
73,500
108,500
45,000
35,200
28,300
108,500
Required:
(a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31
December 2018.
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