Prepare Cashflow Statement for ABC company from the following information. Showing your workings. (Unit: CU1000) ABC's statement of financial positionAs at March 31, 20X7ASSETS31 March 20X731 March 20X6I. Non-current assets1. Properties, plants and equipment2. Intangible assets500,000100,000500,00095,0003. Non-current investments100,000II. Current assets1. Inventories50,00080,000205,000935,000130,0002. Trade receivables120,0003. Cash and cash equivalents327,000Total assets1,272,000EQUITY AND LIABILITIESI. Equity1.Share capital2. Retained earnings500,000250,000700,000420,000II. Non-current liabilitiesS1. Long-term borrowings: 10% bank loan50,000100,000III. Current liabilities1. Trade payables50,0005,00030,000935,00045,0002. Accrued rental7,0003. Provisions for taxation50,000Total equity and liabilities1,272,000 Additional information:1. Properties, plants and equipment including:31 March 20X731 March 20X6Equipment230,000200,000Furniture270,000300,000Total500,000500,0002. During the year, equipment with cost of 80,000 was purchased. Loss on sale of equipmentamounted to 5,000.3. Depreciation charged on equipment and furniture of 15,000 and 30,000 relatively.Amortisation of intangible assets is at 5% on reducing balance.4. Bank loan 50,000 was repaid on 31 March 20X7.5. Dividend declared and fully paid for the year 20X5-20X6 was 50,000.6. Provision for taxation of the previous year is fully paid and all of provision for taxation ofcurrent year has not been paid.7. During the year, the company made a 2 for 5 rights issuance.

The cash flow statement represents the cash inflow and cash outflow that includes the operating,…

Answered: Prepare Cashflow Statement for ABC…

Business

Accounting

Prepare Cashflow Statement for ABC company from the following information. Showing your workings.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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