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QUESTION ONE [25] The following financial information relates to Cams Limited. Statement of Financial Position as...

QUESTION ONE [25]

The following financial information relates to Cams Limited.

Statement of Financial Position as at 31 December 2017 and 2018

2018                                2017

Ordinary share capital

Retained earnings

Property, plant and equipment

Investments

Debentures 12.5%  

Inventory

Trade debtors

Prepaid expenses

Trade creditors

Bank overdraft

SARS (income tax)

Shareholders for dividends

                          400 000

                            55 000

                           230 000

                          165 000

                             20 000

                          124 000

                            37 000

                              -

                           25 000

                            21 000

                              5 000

                              30 000

               295 000

                   5 000

               195 000

                110 000

                  60 000

                120 000

                   28 500

                     1 500

                   42 500

                   25 000

                     7 500

                    20 000

Statement of comprehensive income for the year 31 December 2018                       R

Profit before interest and tax

Depreciation on equipment

interest received on investments

Interest on dividends

Income tax

149 500

5 000

18 000

7 500

50 000

Statement of changes in equity for the year ended 31 December 2018 R

Dividends on ordinary shares                                             R 60 000

Note no. 1 for the year ended 31 December 2017 and 2018

Property, plant and equipment                                      2018 (R)               2017 (R)

Land and building at cost                                                 200 000                 160 000

Equipment at carrying value                                               30 000                35 000

                                                                                          230 000              195 000

Additional information

1. No equipment was purchased or sold during the financial year ended 31 December 2018

2. Ordinary shares were issued during the year.

Required:

Use the information provided above to prepare the cash flow statement for the year ended 31 December 2018.

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Solution:

ekkarill92 answered 1 year ago
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