Could you tell me if this is the correct cash flow statement for these income statements? Thank you;) Harpo Limited has traded for a number of years.financial statement of the company is as follows:Comprehensive Income Statement extract for the yearended 31 December 2017Operating Profit after interestTaxationProfit after interest and TaxationDividendsHarpo Ltd - Statement of Financial Position as at 31 December20172016£'000 £'000 £'000 £'000Non-current assetsLand and BuildingsFixtures and FittingsCurrent AssetsInventoryReceivablesBankTotal AssetsEquityShare CapitalShare Premium AccountProfit and Loss accountNon-Current liabilities8% Loan stockCurrent LiabilitiesBank OverdraftPayablesCorporation TaxCostAt 1.1.2017AdditionsDisposalsAt 31.12.2017DepreciationAt 1.1.2017Charge for the yearDepreciation on disposalNet Book Value 31 12 2017542274165 9812,8810183172950od oda09509501,9000Land and Fixtures andFittingsBuildings£'000£'00095018001005262,4269501004852630Cash Flow from Investing Activities:Purchase Furniture and FittingsSale of Furniture and FittingsNet Cash Flow from Investing ActivitiesCash Flow from Financing Activities:Dividend PaidHarpo Ltd - Non-current assets Schedule 201 Proceeds from Issuance of Share CapitalProceeds from Issuance of Share Premium9506501,60020507254502,3257482,3481,400395(420)1,37595014004331,83345195355 175 4152,8812,348100Harpo LimitedStatement of Cash FlowFor the Year Ended December 31, 2017£'000£'000390(147).243Cash Flow from Operating Activities:Net IncomeChanges in Working Capital:Increase in InventoryIncrease in Receivable(150)93Adjustments for non cash Items:Depreciation ExpenseDecrease in PayableDecrease in Corporation TaxNet Cash Flow from Operating ActivitiesNet Change in CashNet Cash Flow from Financing ActivitiesCash Balance, BeginningCash Balance, EndingSSSS$$$$$(57)(11)(12)(725)30$(3) $(150)400100$$$$£'000$ 555$$243395(83)(695)350210(45)165

Name: Could you tell me if this is the correct cash flow statement for these
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Could you tell me if this is the correct cash flow statement for these income statements? Thank you;) Harpo Limited has traded for a number of years.financial statement of the company is as follows:Comprehensive Income Statement extract for the yeare

Statement of cash flow records all the cash inflows and outflows during the given period. It is…

Answered: Harpo Limited has traded for a number…

Business

Accounting

Harpo Limited has traded for a number of years. financial statement of the company is as follows: Comprehensive Income Statement extract for the year ended 31 December 2017 £'000

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

Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles

Section: Chapter Questions

Problem 8.3DC

See similar textbooks

Similar questions

Income Statement and Retained Earnings Huff Company presents the following items derived from its December 31, 2019, adjusted trial balance: The following information is also available for 2019 and is not reflected in the preceding accounts: 1. The common stock has been outstanding all year. A cash dividend of 1.28 per share was declared and paid. 2. Land was sold at a pretax gain of 6,300. 3. Division X (a major component of the company) was sold at a pretax gain of 4,700. It had incurred a 9,500 pretax operating loss during 2019. 4. A tornado, which is an unusual event in the area, caused a 5,400 pretax loss. 5. The income tax rate on all items of income is 30%. 6. The average shareholders equity is 90,000. Required: 1. Prepare a 2019 multiple-step income statement for Huff. 2. Prepare a 2019 retained earnings statement. 3. Compute the 2019 return on common equity (Net Income 4 Average Shareholders Equity).
The comparative balance sheet of Prime Sports Gear, Inc., at December 31, the end of the fiscal year, is as follows: Additional data obtained from the records of Prime Sports Gear are as follows: a. Net income for 2013 was 121,610. b. Depreciation reported on income statement for 2013 was 46,500. c. Purchased 165,000 of new equipment, putting 90,000 cash down and issuing 75,000 of bonds for the balance. d. Old equipment originally costing 19,500, with accumulated depreciation of 7,950, was sold for 8,000. e. Retired 60,000 of bonds. f. Declared cash dividends of 64,000. g. Issued 1,500 shares of common stock at 27 cash per share. You have been asked to prepare a statement of cash flows for Prime Sports Gear for 2013. Review the worksheet called CASHFLOW that has been provided to assist you in preparing the statement. The worksheet has been designed so that as you make entries in columns D and F, column G will be automatically updated. For example, FORMULA1 should be entered as =B17+D17F17. Columns C and E are to be used to enter letter references for each of the debit and credit entries on the worksheet.
The following information was extracted from the books of ABC ltd for the years ended December 2014 and 2013: Trading, Profit and Loss Account (Income statement ) 2014 Ksh. 2013 Ksh. Sales Cost of sales Gross profit Operating expenses Profit before taxation Current year’s taxation Profit after taxation Dividends Retained profit for the year 31,000,000 18,000,000 13,000,000 9,500,000 3,500,000 1,600,000 1,900,000 600,000 1,300,000 25,500,000 16,000,000 9,500,000 7,500,000 2,000,000 900,000 1,100,000 600,000 500,000 Balance Sheets (Statements of financial Position) | Kshs. 2014 Kshs.’ 2013 Fixed assets (net book value) Freehold land and factory building Plant and equipment Motor vehicles Current assets: Stock Debtors Cash and bank balance Current liabilities: Creditors…
The following information was extracted from the books of ABC ltd for the years ended December 2014 and 2013: Trading, Profit and Loss Account (Income statement ) 2014 Ksh. 2013 Ksh. Sales Cost of sales Gross profit Operating expenses Profit before taxation Current year’s taxation Profit after taxation Dividends Retained profit for the year 31,000,000 18,000,000 13,000,000 9,500,000 3,500,000 1,600,000 1,900,000 600,000 1,300,000 25,500,000 16,000,000 9,500,000 7,500,000 2,000,000 900,000 1,100,000 600,000 500,000 Balance Sheets (Statements of financial Position) | Kshs. 2014 Kshs.’ 2013 Fixed assets (net book value) Freehold land and factory building Plant and equipment Motor vehicles Current assets: Stock Debtors Cash and bank balance Current liabilities: Creditors…
Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANYIncome StatementFor the Year Ended December 31, 2018($ in 000s) Revenues and gains: Sales $ 840 Gain on sale of buildings 12 $ 852 Expenses and loss: Cost of goods sold $ 320 Salaries 124 Insurance 44 Depreciation 127 Interest expense 54 Loss on sale of machinery 11 680 Income before tax 172 Income tax expense 86 Net income $ 86 PARNELL COMPANYSelected Accounts from Comparative Balance SheetsDecember 31, 2018 and 2017($ in 000s) Year 2018 2017 Change Cash $ 142 $ 96 $ 46 Accounts receivable 332 212 120 Inventory 317 433 (116 ) Prepaid insurance 62 96 (34 ) Accounts payable 218 113 105 Salaries payable 110 89 21 Deferred income tax…
1. The following is a data transaction from PT Colorpop's records as the basis for making a Statement of Comprehensive Income for the period ended 31 December 2020: Rent Revenue $ 44,000 Interest Expense $ 20,000 Unrealized gain on non-trading equity securities, net of tax $ 35,000 Selling expenses $ 140,000 Income tax $ 30,600 Administrative expenses $ 185,000 Cost of goods sold $ 500,000 Net sales $ 954,000 Loss on sale of plant assets $ 10,000 Loss from Fixed Assets Revaluation, net of tax $2,000 Instructions: Create a Statement of Comprehensive Income using a two-statement approach! Calculate the value of Ending Per Share for 2020 if the number of shares outstanding is 100,000 shares.
asap The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 116 $ 95 Accounts receivable 136 140 Short-term investment 47 14 Inventory 137 135 Land 102 125 Buildings and equipment 695 530 Less: Accumulated depreciation (193 ) (140 ) $ 1,040 899 Liabilities Accounts payable $ 40 $ 48 Salaries payable 2 6 Interest payable 8 5 Income tax payable 5 10 Notes payable 0 33 Bonds payable 296 230 Shareholders’ Equity Common stock 390 330 Paid-in capital—excess of par 187 165…
The summarized Statement of Financial Position of P Bhd. and S Bhd. as at 31December 2016 is shown below: P Bhd.RM ‘000 S Bhd.RM ‘000 Non – current assetsProperty, plant &equipment 720 160 Investment in SBhd. 185 Current assets 175 951,080 255Share capital 400 100Retained earnings b/f 500 60Retained earnings –current year 60 12Current liabilities 120 831,080 255 Additional information:(i) P Bhd. acquired 60% of S Bhd. on the date of acquisition (1/7/2016) (ii) P Bhd. adopts the proportional net assets value method in valuation of non-controlling interest. (iii) At date of acquisition, fair value of NCI was RM 50,000Prepare the Consolidated Statement of Financial Position as at 31/12/2016.
ASAP!! The following income statement and selected balance sheet account data are available for Satelllite Transmissions, Inc,. at December 31: SATELLITE TRANSMISSIONS, INC Income Statement For the Year Ended December 31,2012 Net Income 205,000 Gain on sales of marketable securities 4000 Depreciation expense 26000 Loss on sale of plant assets 12500 Gain on sale of securities 6500 Selected account balances: End of Year Beg.…
During 2017, Cullumber Company entered into the following transactions. 1. Purchased equipment for $277,720 cash. 2. Issued common stock to investors for $135,480 cash. 3. Purchased inventory of $66,390 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary.
The following condensed information was reported by Peabody Toys, Inc., for 2018 and 2017:($ in thousands)2018 2017Income statement informationNet sales $5,200 $4,200Net income 180 124Balance sheet informationCurrent assets $ 800 $ 750Property, plant, and equipment (net) 1,100 950Total assets $1,900 $1,700Current liabilities $ 600 $ 450Long-term liabilities 750 750Paid-in capital 400 400Retained earnings 150 100Liabilities and shareholders’ equity $1,900 $1,700Required:1. Determine the following ratios for 2018:a. Profit margin on salesb. Return on assetsc. Return on shareholders’ equity2. Determine the amount of dividends paid to shareholders during 2018.This exercise is based on the Peabody Toys, Inc., data from E 4–27.
Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $ 750 Gain on sale of building 11 $ 761 Expenses and loss: Cost of goods sold $ 275 Salaries 115 Insurance 35 Depreciation 118 Interest expense 45 Loss on sale of equipment 13 601 Income before tax 160 Income tax expense 80 Net income $ 80 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2021 2020 Change Cash $ 129 $ 105 $ 24 Accounts receivable 319 221 98 Inventory 326 420 (94 ) Prepaid insurance 71 83 (12 ) Accounts payable 205 122 83 Salaries payable 112 98 14…