REGENT BUSINESS SCHOOL HONORIS UNITED UNIVEESITIES PROGRAMME: MODULE: Total Marks: BACHELOR OF COMMERCE ACCOUNTING 1 70 QUESTION ONE [25] Prepare the indirect cashflow statement for the financial year ended 30 June 2023 for Bibby Limited based on the following financial information provided: Statement of Financial Position as at 30 June 2023 \begin{tabular}{|c|c|c|} \hline Assets & 2023 & 2022 \\ \hline \multicolumn{3}{|l|}{ Non-current assets } \\ \hline Property, Plant and Equipment & 2485000 & 2398000 \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline Inventory & 1279000 & 985300 \\ \hline Accounts receivable & 412000 & 535000 \\ \hline Cash and Cash equivalents & 531300 & 367700 \\ \hline & 2222300 & 1888000 \\ \hline Total assets & 4707300 & 4286000 \\ \hline \end{tabular} Equity and liabilities Equity Share capital Retained income \begin{tabular}{rr} 2650000 & 2150000 \\ 1248000 & 745000 \\ \hline 3898000 & 2895000 \end{tabular} Non-current liabilities Loan 9\% Current liabilities Accounts payable Taxes SARS Shareholders for dividends Total equity and liabilities \begin{tabular}{rr} 456000 & 980000 \\ 97800 & 51000 \\ 154000 & 162000 \\ 101500 & 198000 \\ \hline 353300 & 411000 \\ \( \mathbf{4 7 0 7 3 0 0} \) & \( \mathbf{4 2 8 6 0 0 0} \) \\ \hline \end{tabular}
Added by Luis Miguel B.
Close
Step 1
However, it can be inferred from the change in retained earnings. - Retained earnings increased from 745,000 in 2022 to 1,248,000 in 2023. - Increase in retained earnings = 1,248,000 - 745,000 = 503,000. - Assume no dividends were paid (or if dividends were paid, Show more…
Show all steps
Your feedback will help us improve your experience
Maitreya E and 90 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
Comparative consolidated balance sheet data for BIG Co and its 65% owned subsidiary LITTLE Co are as follows: Item 2020 2019 Cash 12,000 25,000 Notes receivable (net) 60,000 43,000 Supplies inventory 90,000 50,000 PPE (net) 100,000 110,000 Patent 90,000 105,000 Totals 352,000 352,000 Accounts payable 80,000 68,000 Notes payable LT 50,000 30,000 Non-controlling interests 44,000 40,000 Common stock 10 $ par 205,000 205,000 Retained earnings 18,000 (10,000) Totals 352,000 352,000 Additional information: a. The consolidated net income for 2020 is $50,000. b. Little paid $10,000 in dividends during the year. Big paid $17,000 in dividends. c. Little sold $16,000 of supplies to Big during the year. d. There were no sales or purchases of long-term assets during the year. Required: a. Compute the consolidated cash flows from operating activities using the indirect method. (4 marks) b. Compute the consolidated cash flows from investing activities. (2 marks) c. Compute the consolidated cash flows from financing activities. (4 marks)
Maitreya E.
Shu N.
Assume the following income statement and balance sheet information: Service revenue (all cash) $175 Operating expenses Salaries (all cash) 85 Net income $90 2020 2019 Current assets Cash $1,250 $1,600 Short-term invest. 100 200 $1,350 $1,800 Liabilities Borrowings 600 1,000 Stockholders' equity Common stock 200 300 Retained earnings 550 500 750 800 $1,350 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non-current. No gain or loss occurred when common stock was repurchased. Required: 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity. 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to a $450 outflow.
Adi S.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD