The following information is provided by Kari Limited KARI LIMITED FINANCIAL POSITION STATEMENT AS AT 31ST MAR 2010 2010 2009 Shs’000’ Sh ‘000’ ASSETS NON-CURRENT ASSETS Land and Buildings 95,000 55,000 Motor Vans 46,000 35,000 Fixtures and Fittings 25,000 28,000 166,000 118,000 CURRENT ASSETS Stock 28,000 20,000 Debtors 14,000 16,000 Prepayments 6,000 8,000 Bank and cash Balance 3,000 48,000 47,000 Total assets 214,000 165,000 Equity and Liabilities Capital and reserves Ordinary share capital Share premium 80,000 50,000 Revaluation reserve 20,000 15,000 Retained profit 15,000 15,000 18,000 15,000 36,000 30,000 NON CURRENT LIABILITIES 10% Debenture loan 30,000 20,000 Bank Loan 6,000 10,000 CURRENT LIABILITIES Trade creditors 23,000 15,000 Interest payable 9,000 6,000 Current Tax 6,000 5,000 Bank overdraft 4,000 Proposed dividend 3,000 4,000 45,000 30,000 Total Equity and liabilities 214,000 214,000 Land and building were revalued upwards by sh 10,000,000 during the year.In addition and acquisition of land and building of sh 40,000,000 was made Depreciation on motor vans amounting to sh 4,000,000 was provided in the profit and loss account for the year ,Motor vans having a net value of shs 8,000,000 were sold at profit of sh 3,000,000 during the year Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve.Kari ltd ordinary shares have a par value of shs 20 Interest expense charged to the profit and loss account for the year amounted to shs 8,000,000 During the year,tax amounting to 6,000,000 was paid Total didvidend for the year (Both interim and final )amounted to 5,000,000 Net profit after tax for the year amounted to shs 8,000,000 Required Prepare a cash flow statement for the year ended 31st March 2010 in accordance to IAS7 using the indirect method for Kari Ltd
The following information is provided by Kari Limited
KARI LIMITED
FINANCIAL POSITION STATEMENT AS AT 31ST MAR 2010
|
2010 |
2009 |
|
Shs’000’ |
Sh ‘000’ |
ASSETS |
|
|
NON-CURRENT ASSETS |
|
|
Land and Buildings |
95,000 |
55,000 |
Motor Vans |
46,000 |
35,000 |
Fixtures and Fittings |
25,000 |
28,000 |
|
166,000 |
118,000 |
CURRENT ASSETS |
|
|
Stock |
28,000 |
20,000 |
Debtors |
14,000 |
16,000 |
Prepayments |
6,000 |
8,000 |
Bank and cash Balance |
|
3,000 |
|
48,000 |
47,000 |
Total assets |
214,000 |
165,000 |
|
|
|
Equity and Liabilities |
|
|
Capital and reserves |
|
|
Ordinary share capital |
|
|
Share premium |
80,000 |
50,000 |
Revaluation reserve |
20,000 |
15,000 |
Retained profit |
15,000 |
15,000 |
|
18,000 |
15,000 |
|
36,000 |
30,000 |
NON CURRENT LIABILITIES |
|
|
10% Debenture loan |
30,000 |
20,000 |
Bank Loan |
6,000 |
10,000 |
|
|
|
CURRENT LIABILITIES |
|
|
Trade creditors |
23,000 |
15,000 |
Interest payable |
9,000 |
6,000 |
Current Tax |
6,000 |
5,000 |
Bank overdraft |
4,000 |
|
Proposed dividend |
3,000 |
4,000 |
|
45,000 |
30,000 |
Total Equity and liabilities |
214,000 |
214,000 |
- Land and building were revalued upwards by sh 10,000,000 during the year.In addition and acquisition of land and building of sh 40,000,000 was made
Depreciation on motor vans amounting to sh 4,000,000 was provided in theprofit and loss account for the year ,Motor vans having a net value of shs 8,000,000 were sold at profit of sh 3,000,000 during the year- Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve.Kari ltd ordinary shares have a par value of shs 20
- Interest expense charged to the profit and loss account for the year amounted to shs 8,000,000
- During the year,tax amounting to 6,000,000 was paid
- Total didvidend for the year (Both interim and final )amounted to 5,000,000
- Net profit after tax for the year amounted to shs 8,000,000
Required
Prepare a cash flow statement for the year ended 31st March 2010 in accordance to IAS7 using the indirect method for Kari Ltd
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