Cash Flow Statement | ||||
Indirect Method | ||||
Cash Flow from Operating Activities | ||||
Net Income | $ 98,522.00 | |||
Adjustments | ||||
Finance Cost | $ 6,540.00 | |||
Depreciation | $ 4,798.00 | |||
Change in Fair Value of Investment | $ (500.00) | |||
Gain on Sale of PPE | $ (80.00) | |||
Inventories written down | $ 18.00 | |||
Provision for bad debts | $ 5.00 | |||
Impairment loss of intangible assets | $ 200.00 | |||
Changes in Current Assets/ Current Liabilities | ||||
Increase in Inventories | $ (583.00) | =3980-4545-18 | ||
Decrease in Trade Receivables | $ 1,660.00 | =9075-7410-5 | ||
Increase in Short term Investments | $ (500.00) | |||
Decrease in Trade Payables | $ (595.00) | =8745-9340 | ||
Increase in Other Payables | $ 300.00 | =1100-800 | ||
Increase in Tax Payables | $ 1,600.00 | =11725-10125 | ||
Less Income Tax paid | $ (6,255.00) | =-(10340-13885+9800) | ||
Total Adjustments | $ 6,608.00 | |||
Cash from Operating Activities | $ 105,130.00 | |||
Cash flow from Investing Activities | ||||
Sale of Equipment | $ 500.00 | |||
Purchase of PPE | $ (59,968.00) | =281000-420-4798-335750 | ||
Net cash used In investing activities | $ (59,468.00) | |||
Cash flow from Financing Activities | ||||
Issue of Share Capital | $ 5,700.00 | =54500-48800 | ||
Borrowing of loan from bank | $ 10,000.00 | =92500-82500 | ||
Finance Cost | $ (6,640.00) | =-(6540+3000-2900) | ||
Dividend Paid | $ (38,127.00) | |||
Net cash used in financing activities | $ (29,067.00) | |||
Increase in Cash | $ 16,595.00 | |||
Opening Balance of Cash & Equivalents | $ (2,945.00) | =7555-10500 | ||
Ending Balance of Cash & Equivalents | $ 13,650.00 |
Bank Overdraft has been considered as part of cash.
(B) It is required by the companies which are publicaly held because investor would like to know how the company is performing throughout the year so that they can take informed decisions, it is also helpful for government authorities to check on their tax compliance.
Purpose of interim reporting is to
To estimate the earnings of the company
To make projections
To evaluate management performance regularly
The draft statement of financial position of Linfield Limited for the year ended 31 December 2016 are as below:...
Example1 Blair Limited -Statement of Financial Position as at 31 December 2008 2008 2007 ASSETS Non-current assets Current assets Inventories Receivables Cash 545,000 410,000 90,000 83,000 45,000 81,000 75,000 64,000 218,000 763,000 220,000 630,000 EQUITY AND LIABILITIES Capital and reserves: $1 ordinary shares Share Premium Account Accumulated profits 150,000 20,000 476,000 646,000 100,000 431,000 531,000 Current liabilities: Trade payables Corporation tax payable 97,000 20,000 69,000 30,000 117,000 763,000 99,000 630,000 Statement of Profit or Loss for the year ended 31...
Kingdom is a public listed manufacturing company. Its draft summarised financial statements for the year ended 30 September 2013 (and 2012 comparatives) are: Statements of profit or loss and other comprehensive income for the year ended 30 September: 2013 2012 $’000 $’000 Revenue 44,900 44,000 Cost of sales (31,300) (29,000) ––––––– ––––––– Gross profit 13,600 15,000 Distribution costs (2,400) (2,100) Administrative expenses (7,850) (5,900) Investment properties – rentals received 350 400 – fair value changes (700) 500 Finance costs (600)...
Set out below are the financial statements of Emcar plc. Income Statement for the year ended 31 December 2017 $'000 Turnover 2,553 Cost of sales (1,814) Gross profit 739 25 Other Income: discount received Distribution costs Administrative expenses Finance cost (125) (264) (75) 300 Profit before tax Income tax expense Profit for the period 140 160 Statement of Financial Position as at 31 December 2017 2016 000.$ 000.$ Assets Non-current assets Property, plant and equipment Intangible assets Investments 380 305...
(b) The company's statement of financial position as of December 31, 2015 Be sure to give account titles and amounts, and briefly justify your presentation. 56 P12-5 (Goodwill, Impairment) On July 31, 2015, Mexico Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division (cash-generating unit) of Mexico. Conchita reported the following statement of financial position at the time of the acquisition. Non-current assets Current assets $2,700,000 800,000 $3,500,000 Equity Non-current liabilities Current...
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K million 4,000 (3,450) 550 (370) 40 180 Statement of Profit Or Loss Revenue (25% cash sales) Cost of sales Gross profit Operating experises Profit on disposal of plant Finance charges Profit before tax Income tax expense Profit for the period Dividend paid Retained profit for the year (20) 200 (50) 150 50 100 K'million K million 550 Statement of Financial Position Non-current assets Property,...
HIROOLE LTD. Statement of Financial Position December 31 (in thousands) 2018 2017 2016 Assets Current assets Cash $30 $81 $200 Accounts receivable 907 698 504 Inventory 1,190 794 497 Total current assets 2,127 1,573 1,201 Property, plant, and equipment (net) 4,105 3,831 3,230 Total assets $6,232 $5,404 $4,431 Liabilities and Shareholders' Equity Liabilities Current liabilities $596 $553 $499 Non-current liabilities 3,047 2,303 1,508 Total liabilities 3,643 2,856 2,007 Shareholders' equity Common shares 999999999 Retained earnings 1,590 1,549 1,425 Total shareholders'...
Wonderpapa Bhd Statement of Profit or Loss for the year ended 31 December 2016 RM RM 7,000,000 (4.000.000 3,000,000 Turnover Cost of goods sold Gross Profit Less: Expenses Operating expenses Depreciation expenses Loss on sale of machinery Profit before taxation Taxation Net Profit after taxation 800,000 880,000 30,000 (1.710,000) 1,290,000 (300.000) 990,000 The following balances are reported on Wonderpapa Bhd's comparative Statement of Financial Position as at 31 December 2016 RM 2015 RM Non-current Assets Machinery Accumulated Depreciation 3,020,000 (1,647,000)...
The financial statements for Fallon Sales Limited are shown below: Statement of Financial Position As of 31 December 20X5 20X4 Assets Cash $ 17,100 $ 20,000 Accounts receivable 72,500 60,000 Merchandise inventory 131,400 180,000 Prepaid insurance 2,600 2,400 Investments 10,000 30,000 Land 70,000 70,000 Capital assets, net 278,000 240,000 Goodwill, net 67,900 106,600 $649,500 $709,000 Liabilities and equity Accounts payable $ 98,000 $111,000 Rent payable 6,500 2,000 Income tax payable 6,400 8,000 Bonds payable 150,000 260,000 Pension obligation...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES $ 3,315,938 COST OF SALES GROSS PROFIT 640,652 OPERATING EXPENSES: Advertising Auto and Truck Expenses Bank Service Charges Credit Card Fees Depreciation Insurance Legal and Accounting Miscellaneous Payroll Taxes Rent Repairs and Maintenance Supplies Travel Utilities Wages Total Operating Expenses 5.264 3,686 3,158 16.621 8.436 24,511 15.943 10.963 29,931 36,000 34,370 35,748 7,071 28.338 199.537 $ OPERATING INCOME (LOSS) INTEREST EXPENSE 6,237 NET INCOME BEFORE...
L o questions Question 3 Statements ents of Financial Position as at 31 December 2016 Gary Ltd €'000 Paul Ltd €000 Assets Non-current Assets Property, plant and equipment Investments in Paul Ltd €'000 €'000 1,305 5,670 2,160 7,830 1,305 2,160 1,555 1,080 765 745 405 4.795 Current Assets Inventories Trade receivables Cash and cash equivalents Total Assets Equity and Liabilities Capital and Reserves Ordinary share capital Retained earnings 12,625 6,300 2,275 8,575 1.800 565 2,365 1,080 Non-current Liabilities Debenture loans...