Question

In: Accounting

Prepare the cash flow statement (according to IFRS standards) for Stonechat plc for the year ended...

Prepare the cash flow statement (according to IFRS standards) for Stonechat plc for the year ended 31December Year 7. Stonechat plc’s income statement for the year ended 31 December Year 7 and thebalance sheet as at 31 December Year 6 and Year 7 are as follows. (12 points)

Income statement for the year ended 31 December Year 7

€m

Revenue

623

Cost of sales

(353)

Gross profit

270

Distribution expenses

(71)

Administrative expenses

(30)

Rental income

27

Operating profit

196

Interest payable

(26)

Profit before taxation

170

Taxation

(36)

Profit for the year

134

Balance sheets as at 31 December Year 6 and Year 7

Year 6

Year 7

ASSETS

€m

€m

Non-current assets

Property, plant and equipment

Land and buildings

310

310

Plant and machinery

325

314

635

624

Current assets

Inventories

41

35

Trade receivables

139

145

180

180

Total assets

815

804

EQUITY AND LIABILITIES

Equity

Share capital

200

300

Share premium

40

Reserves – retained earnings

192

206

432

506

Non-current liabilities

Borrowings – loan notes

250

150

Current liabilities

Borrowings (all bank overdraft)

56

89

Trade payables

54

41

Taxation

23

18

133

148

Total equity and liabilities

815

804

  • During Year 7, the business spent €67 million on additional plant and machinery.
  • There were no other non-current asset acquisitions or disposals.
  • There was no share issue for cash during the year. (There was a bonus issue of ordinary shares during theyear, but a bonus issue of ordinary shares has no cash flow effect.)
  • A dividend of €60 million was paid.

Solutions

Expert Solution


Related Solutions

The following information relates to a Corporation for the year ended 2014: Prepare the cash flow...
The following information relates to a Corporation for the year ended 2014: Prepare the cash flow statement in proper form Purchase of Treasury Stock $32,000 Depletion Expense $15,000 Cash from issuance of bonds payable $30,000 Net loss $25,000 Beginning short-term investments $12,000 Ending short-term investments $18,000 Purchase of a patent $33,000 Beginning accounts payable $103,000 Ending account payable $76,000 Beginning accounts receiavble $15,000 Ending accounts receivable $10,000 Beginning inventory $20,000 Ending inventory $11,000 Loss on sale of stock $12,000 Issued...
Prepare the cash flow statement for the company for the year 2018 (start with NPAT) and...
Prepare the cash flow statement for the company for the year 2018 (start with NPAT) and write down your answer for each section. (Do not show the full format, just write down the balance for each section.) (Depreciation Expense for the year 2018 is 500,000 USD) Cash flow from operations: ? Cash flow from investments:? Cash flow from financing:? Cash Surplus (Deficit) :? Z&B Company Balance Sheets (USD) Z&B Company Income Statement for the Year 2018 (USD) ASSETS 31.12.2017 31.12.2018...
(a) Prepare a Statement of Cash Flows for the year ended 30 June 2020 using the...
(a) Prepare a Statement of Cash Flows for the year ended 30 June 2020 using the direct method, ignoring GST. Show all workings on the Workings page. (b) Using the relevant information from the question above, identify two (2) specific items (including their values) which causes a difference between Net Profit and Net Cash from Operating Activities and analyse why it causes a difference. The following financial statements relate to Clarke Ltd for the financial year ended 30 June 2020....
Based on the financial statements provided, prepare a statement of cash flows for the year ended...
Based on the financial statements provided, prepare a statement of cash flows for the year ended February 28, 2018. SILVER CLOUD COMPUTING Income Statements For the Years Ended February 28, 2018 and 2017 fye 2/28/2018 fye 2/28/2017 (in thousands) (in thousands) Sales $            225,000 $            200,000 Sales Discounts                     3,375                     2,500 Net Sales                221,625                197,500 Wages and Salaries                  73,500                  70,000 Bad Debt Expense                     2,100                     2,000 Depreciation                  20,000                  20,000 Marketing Expense                 ...
Prepare the financing section of the statement of cash flows for the year ended December 31,...
Prepare the financing section of the statement of cash flows for the year ended December 31, 2018. 13) Dakota Telescopes Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:                                    Dakota Telescopes Company                                              Income Statement                                  Year Ended December 31, 2019 Sales Revenue                                                   $275,000 Interest Revenue                                                     2,600 Total Revenues                                                                                   $277,600 Cost of Goods Sold                                             135,000 Salary Expense                                                      66,500 Depreciation Expense                                          32,000 Other Operating Expenses                                 35,900 Interest Expense                                                      2,400 Income Tax...
Prepare statement of cash flow from the financial statement of Alfalah (Pvt) Ltd. For the year...
Prepare statement of cash flow from the financial statement of Alfalah (Pvt) Ltd. For the year ended. PROFIT AND LOSS STATEMENT 2017 RS. Sales 757,645 Cost of sales (628,143) Gross Profit 129,502 Administration expense 14,723 Other expenses 21,992 Gain on sale of fixed assets (2,000) Depreciation expenses 23,000 57,715 Profit before income tax 71,787 Income tax expenses(current) and deferred) 23,787 Net profit after tax 48,000 STATEMENT OF RETAINED EARNINGS Retained earnings, beginning of period 7,312 Net profit for the period...
Prepare an income statement, balance sheet and cash flow statement for the year 2023 The question...
Prepare an income statement, balance sheet and cash flow statement for the year 2023 The question no longer need to be answered
CONDENCED STATEMENT OF CASH FLOW FOR THE YEAR ENDED DECEMBER 31 (IN THOUSANDS)   2011 Cash flows...
CONDENCED STATEMENT OF CASH FLOW FOR THE YEAR ENDED DECEMBER 31 (IN THOUSANDS)   2011 Cash flows from operating activities   Cash receipts from operating activities   $12,000    Cash payments for operating activites   10,000 Net cash provided by operating activities   3,000 Cash flows from investing activities   Purchases of property, plant, and equipment   (500) Other investing activities   (130) Net cash used in investing activities   (630) Cash flows from financing activities   Issuance of common stock   160 Issuance of debt   2,179 Reductions of debt   -2,01...
Forecast an Income Statement Following is the income statement for Medtronic PLC for the year ended...
Forecast an Income Statement Following is the income statement for Medtronic PLC for the year ended April 29, 2016. Consolidated Statements of Income Apr. 29, 2016 Apr. 24, 2015 Apr. 25, 2014 Net sales $29,944 $20,261 $17,005 Costs and expenses Cost of products sold 9,283 6,309 4,333 Research and development expense 2,224 1,640 1,477 Selling, general, and administrative expense 9,469 6,904 5,847 Special charges (gains), net 70 (38) 40 Restructuring charges, net 290 237 78 Certain litigation charges, net 26...
Prepare the statement of cash flows for the year ended December 31,2017 using the indirect method
XS supply company is developing its annual financial statement at December 31,2017. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized Particulars 2017 2018 Balance sheet at December 31     Cash $ 50,720 $ 34,800 Accounts Receivable 42,850 36,100 Merchandise Inventory 49,750 43,700 Property & Equipment 1,64,000 1,38,000 Less : Accumulated Depreciation (39,600) (34,500)   2,67,720 2,18,100 Accounts Payable 40,050 30,700 Wages Payable 1,910 2,400 Note Payable,Long...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT