15.4A The statements of financial position and additional information relating to Pennylane Ltdare given below. Prepare a statement of cash flows for Pennylane Ltd for the year ending 31 Decem-ber 2016 as required under IAS 7 using the indirect method.Pennylane LtdStatements of Financial Position as at 31 December20162015£000£000Non-current assetsTangible assetsIntangible assetsInvestments40032523018025530630Current assetsInventoryAccounts receivable90-day deposit12010440050295Cash in hand105804031,210Total assetsCurrent liabilitiesTrade accounts payableBank overdraft933122108188185Taxation120430110403Non-current liabilitiesLong-term loanDeferred tax100801806106006060463470Total liabilitiesNet assetsEquityShare capital (£1 ordinary shares)Share premiumRevaluation reserve20016015015010090Retained profits14080600470Additional information:(a) During the year interest of £75,000 was paid, and interest of £25,000 was received.(b) The following information relates to tangible non-current assets:At 31 December20162015£000E000Cost740615Accumulated depreciationNet book value(340)400(290)325() The proceeds of the sale of non-current asset investments were £30,000.(d) Plant, with an original cost of £90,000 and a net book value of £50,000, was sold for £37,000.(e) Tax paid to Revenue and Customs during 2016 amounted to f110,000.() Dividends of £80,000 were paid during 2016.

Cash flow statement A cash flow statement is one of the important financial statements that depict…

15.4A The statements of financial position and additional information relating to Pennylane Ltd are given below. Prepare a statement of cash flows for Pennylane Ltd for the year ending 31 Decem- per 2016 as required under IAS 7 using the indirect method. Pennylane Ltd Statements of Financial Position as at 31 December 2016 2015 £000 £000 Non-current assets Tangible assets ntangible assets nvestments 400 325 230 180 25 530 630 Current assets 120 104 nventory Accounts receivable 80-day deposit Cash in hand 400 295 50 10 580 1210 403 Total assets 933

15.4A The statements of financial position and additional information relating to Pennylane Ltd are given below. Prepare a statement of cash flows for Pennylane Ltd for the year ending 31 Decem- per 2016 as required under IAS 7 using the indirect method. Pennylane Ltd Statements of Financial Position as at 31 December 2016 2015 £000 £000 Non-current assets Tangible assets ntangible assets nvestments 400 325 230 180 25 530 630 Current assets 120 104 nventory Accounts receivable 80-day deposit Cash in hand 400 295 50 10 580 1210 403 Total assets 933

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.13MCP: Statement of Cash Flowsâ€”Direct Method Lang Company has not yet prepared a formal statement of cash...

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