The following is the Statement of Financial Position of Target Limited, a real estate company in Accra. Target Limited Statement of Financial Position As at December 31, 2017 2016 GH¢ GH¢ Property, Plant & Equipment 881,121 1,058,283 Investment Property 2,889,327 2,818,287 Total Non-Current Assets 3,770,448 3,876,570 Current Assets General Advances 156,416 Inventory-Materials 1,355,242 1,509,192 Inventory-Plots 9,247,900 3,403,900 Trade and Other Receivables 265,651 30,755 Payment on Account for Lands 988,022 985,022 Staff Loans 6,427 6,770 Cash at Bank 5,760,848 1,798,966 Cash-at-Hand 2,187 2,341 WIP-Ancilliary Works 382,685 313,843 Total Current Assets 18,008,963 8,207,205 Current Liabilities Provision for Tax (14,240) 47,001 Payment on Account for Homes 7,201,000 7.463,742 Sundry Payables 3,331,761 906,697 Total Current Liabilities 10,518,521 8,417,441 Net Current Assets 7,490,442 (210,235) Net Assets 11,260,889 3,666,335 Financed By Stated Capital 3,200,000 3,200,000 Income Surplus (154,653) 141,935 Long-term Loans 8,161,143 270,000 Revaluation Reserve 54,400 54,400 Capital Employed 11,260,889 3,666,335 You are required to prepare the cash flow statement for the year ended 31st December, 2017.
The following is the
Target Limited
Statement of Financial Position
As at December 31, 2017
2016
GH¢ GH¢
Property, Plant & Equipment 881,121 1,058,283
Investment Property 2,889,327 2,818,287
Total Non-Current Assets 3,770,448 3,876,570
Current Assets
General Advances 156,416
Inventory-Materials 1,355,242 1,509,192
Inventory-Plots 9,247,900 3,403,900
Trade and Other Receivables 265,651 30,755
Payment on Account for Lands 988,022 985,022
Staff Loans 6,427 6,770
Cash at Bank 5,760,848 1,798,966
Cash-at-Hand 2,187 2,341
WIP-Ancilliary Works 382,685 313,843
Total Current Assets 18,008,963 8,207,205
Current Liabilities
Provision for Tax (14,240) 47,001
Payment on Account for Homes 7,201,000 7.463,742
Sundry Payables 3,331,761 906,697
Total Current Liabilities 10,518,521 8,417,441
Net Current Assets 7,490,442 (210,235)
Net Assets 11,260,889 3,666,335
Financed By
Stated Capital 3,200,000 3,200,000
Income Surplus (154,653) 141,935
Long-term Loans 8,161,143 270,000
Revaluation Reserve 54,400 54,400
Capital Employed 11,260,889 3,666,335
You are required to prepare the
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