The following is an extract from the statements offinancial position of Carp plc as at 31 December 2020and 2021:Plant andequipment(carrying amount)2020£m268O a. (£87m)O b. (£84m)O c. (£76m)O d. (£65m)2021£m343During the year to 31 December 2021 the followingtransactions took place:1. Interest received was £llm2. Depreciation of plant and equipment during theyear was £23mThere were no disposals of non-current assets duringthe year.What was the appropriate figure for net cash frominvesting activities for reporting in the statement ofcashflows for the year ending 31 December 2021?

Name: The following is an extract from the statements offinancial position
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Description: The following is an extract from the statements offinancial position of Carp plc as at 31 December 2020and 2021:Plant andequipment(carrying amount)2020£m268O a. (£87m)O b. (£84m)O c. (£76m)O d. (£65m)2021£m343During the year to 31 December 2021 the

The cash flow statement is prepared to record cash flows from various activities during the period.…

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The following is an extract from the statements of financial position of Carp plc as at 31 December 2020 and 2021: Plant and equipment carrying amount) 2020 £m 268 2021 £m 343 During the year to 31 December 2021 the following cransactions took place: 1. Interest received was £11m 2. Depreciation of plant and equipment during the year was £23m

The following is an extract from the statements of financial position of Carp plc as at 31 December 2020 and 2021: Plant and equipment carrying amount) 2020 £m 268 2021 £m 343 During the year to 31 December 2021 the following cransactions took place: 1. Interest received was £11m 2. Depreciation of plant and equipment during the year was £23m

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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Concept explainers

Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.

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Question

The following is an extract from the statements of
financial position of Carp plc as at 31 December 2020
and 2021:
Plant and
equipment
(carrying amount)
2020
£m
268
O a. (£87m)
O b. (£84m)
O c. (£76m)
O d. (£65m)
2021
£m
343
During the year to 31 December 2021 the following
transactions took place:
1. Interest received was £llm
2. Depreciation of plant and equipment during the
year was £23m
There were no disposals of non-current assets during
the year.
What was the appropriate figure for net cash from
investing activities for reporting in the statement of
cashflows for the year ending 31 December 2021?

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