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    Class Activity 1 Cash Flow Statement

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    Hacker SK
    Class Practice PTY LTD's statement of financial position from 31 March 2022 to 31 March 2023 showed increases in machinery, investments, stock, and share capital. Liabilities such as bank loan and creditors decreased while bills payable and income tax payable increased. Additional information provided that machinery worth R50,000 was sold for R25,000, with depreciation of R30,000. Depreciation for the year was R100,000. An interim dividend of R25,000 was declared. The statement of financial performance showed a profit of R20,000 and income tax of R30,000 for the year. This information is to be used to complete the cash flow statement

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    Class Activity 1 Cash Flow Statement

    Uploaded by

    Hacker SK
    14 views2 pages
    Class Practice PTY LTD's statement of financial position from 31 March 2022 to 31 March 2023 showed increases in machinery, investments, stock, and share capital. Liabilities such as bank loan and creditors decreased while bills payable and income tax payable increased. Additional information provided that machinery worth R50,000 was sold for R25,000, with depreciation of R30,000. Depreciation for the year was R100,000. An interim dividend of R25,000 was declared. The statement of financial performance showed a profit of R20,000 and income tax of R30,000 for the year. This information is to be used to complete the cash flow statement

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    Class Practice PTY LTD's statement of financial position from 31 March 2022 to 31 March 2023 showed increases in machinery, investments, stock, and share capital. Liabilities such as bank loan and creditors decreased while bills payable and income tax payable increased. Additional information provided that machinery worth R50,000 was sold for R25,000, with depreciation of R30,000. Depreciation for the year was R100,000. An interim dividend of R25,000 was declared. The statement of financial performance showed a profit of R20,000 and income tax of R30,000 for the year. This information is to be used to complete the cash flow statement

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    14 views2 pages

    Class Activity 1 Cash Flow Statement

    Uploaded by

    Hacker SK
    Class Practice PTY LTD's statement of financial position from 31 March 2022 to 31 March 2023 showed increases in machinery, investments, stock, and share capital. Liabilities such as bank loan and creditors decreased while bills payable and income tax payable increased. Additional information provided that machinery worth R50,000 was sold for R25,000, with depreciation of R30,000. Depreciation for the year was R100,000. An interim dividend of R25,000 was declared. The statement of financial performance showed a profit of R20,000 and income tax of R30,000 for the year. This information is to be used to complete the cash flow statement

    Copyright:

    © All Rights Reserved
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    Class Activity 1 Cash Flow statement

    Below is the statement of financial position of class practice PTY LTD

    Assets 31.3.22 31.3.23

    Machinery (at cost) 3,00,000 5,00,000

    Accumulated Depreciation (80,000) (1,50,000)

    Goodwill (brand value) at fair value 80,000 70,000

    Investments (shares) at cost 90,000 1,10,000

    Stock 2,00,000 2,25,000

    Debtors 2,00,000 1,90,000

    Bank 1,30,000 25,000

    Liabilities and Equity

    Share Capital 3,60,000 4,00,000

    Reserves & Surplus 80,000 1,00,000

    Bank Loan 1,00,000 75,000

    Creditors 2,10,000 2,00,000

    Bills Payable ----- 5,000

    Dividend payable 45,000 60,000

    Income Tax Payable 25,000 30,000

    Additional information

    1. During the year a part of the machinery costing R50,000 and accumulated depreciation of R30 000
    was sold for R 25,000.

    2. Depreciation provided during the year R 1,00,000.

    3. Interim dividend declared during year R 25,000

    4. The statement of financial performance showed a profit for the year amounted to R20 000 an
    income tax for the year amounted to R30 000

    Required

    1.1 Complete the below cash flow format using the information above.

    Class Practice PTY LTD Cash Flow


    CASH FLOWS FROM OPERTING ACTIVITIES R
    Net Profit before tax and extraordinary items Adjustment for:
    Depreciation
    Loss on sale of fixed assets Gain on sale of fixed assets
    Loss on sale of foreign exchange Interest received
    Dividend received
    Operating Profit before working capital changes Add:
    Decrease in current assets
    Increase in current liabilities
    Less: Increase in current assets Decrease in
    current liabilities
    Cash generated from operating activities
    Cash Flows from Investing Activities
    Receipt from sale of fixed assets
    Purchase of fixed assets
    Interest received
    Dividend received
    Sale of Investments
    Purchase of Investments
    Net Cash from Investing Activities
    Cash Flows from Financing Activities
    Proceeds from issuance of share capital
    Proceeds from long-term borrowings
    Repayment of borrowings
    Interest paid
    Dividend paid
    Net Cash from Financing Activities
    Net Increase/Decrease in Cash and Cash Equivalents
    Cash beginning
    Cash at the end of the year

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