Professional Documents
Culture Documents
Revision Questions - 2 Statement of Cash Flows - Solution
Revision Questions - 2 Statement of Cash Flows - Solution
a)
Huntwell Ltd
Cash Flow Statement
for the year ended 30 June 2015
Trade Debtors
Bal b/d 210,000 Bad debts w/off 4,000
Sales 920,000 Cash 882,000
. Bal c/d 244,000
1,130,000 1,130,000
Inventory
Bal b/d 285,000 Cost of sales 320,000
Purchases 370,000 Bal c/d 335,000
655,000 655,000
Trade Creditors
Cash 361,000 Bal b/d 90,000
Bal c/d 99,000 Purchases 370,000
460,000 460,000
Accumulated Depreciation
Carrying amt of pt & eqt sold 30,000 Bal b/d 230,000
Bal c/d 295,000 Depreciation 95,000
325,000 325,000
Interest Payable
Cash 9,000 Bal b/d 15,000
Bal c/d 20,000 Expense 14,000
29,000 29,000
Income taxes paid = (o/bal - CTL) 45,000 + (ITE) 74,000 – (c/bal – CTL) 65,000 + (o/bal –
DTL) 16,000 – (c/bal – DTL) 10,000 = 60,000
Interest Receivable
Bal b/d 20,000 Cash 16,000
Interest revenue 11,000 Bal c/d 15,000
31,000 31,000
Retained Earnings
General reserve 7,000 Bal b/d 125,000
Cash - interim dividend paid 25,000 P & L Summary 142,000
Final dividend payable 35,000
Bal c/d 200,000 .
267,000 267,000
a)
Douglas Berry Ltd
Cash Flow Statement
for the year ended 30 June 2015
Accrued Interest
549,500 549,500
Equipment
1,000,50 1,000,500
0
Mortgage Loan
Retained Earnings