Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: Depreciation on buildings Depreciation on plant and machinery INFORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Land and buildings 1 760 000 1504 000 PEPSICO LIMITED Changes in Working Capital: Decrease in Inventories Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 Cash Flow from Operations Less: Interest Paid Sales 3312 000 2 800 000 $1,080,000 $ (64,000) $ (192,000) Cost of sales (1 616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Gross profit 1696 000 1 240 000 Cash and cash equivalents 72 000 64 000 Net Cash Flow from Operating Activities $ 824,000 Ordinary share capital 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Seling and administrative expenses (672 00 (568 000) $ (352,000) $ (304,000 $ (240,000 Operating profit 1 024 000 Retained eamings 896 000 480 000 Purchase of Plant and Machinery 672 000 Purchase of Investments Interest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000 Profit before tax Accounts payable 384 000 448 000 960 000 640 000 Cash Flow from Financing Activities: 64 000 Dividend Paid Issuance of Long term Loans Income tax payable $ (240,000) $ 320,000 128 000 Tax (256 000) (172 000) Dividends payable 208 000 160 000 Profit ater tax 704 000 468 000 Net Cash Flow from Financing Activities $ 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning Cash Balance. Ending $ 64,000 $ 72.000
Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: Depreciation on buildings Depreciation on plant and machinery INFORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Land and buildings 1 760 000 1504 000 PEPSICO LIMITED Changes in Working Capital: Decrease in Inventories Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 Cash Flow from Operations Less: Interest Paid Sales 3312 000 2 800 000 $1,080,000 $ (64,000) $ (192,000) Cost of sales (1 616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Gross profit 1696 000 1 240 000 Cash and cash equivalents 72 000 64 000 Net Cash Flow from Operating Activities $ 824,000 Ordinary share capital 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Seling and administrative expenses (672 00 (568 000) $ (352,000) $ (304,000 $ (240,000 Operating profit 1 024 000 Retained eamings 896 000 480 000 Purchase of Plant and Machinery 672 000 Purchase of Investments Interest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000 Profit before tax Accounts payable 384 000 448 000 960 000 640 000 Cash Flow from Financing Activities: 64 000 Dividend Paid Issuance of Long term Loans Income tax payable $ (240,000) $ 320,000 128 000 Tax (256 000) (172 000) Dividends payable 208 000 160 000 Profit ater tax 704 000 468 000 Net Cash Flow from Financing Activities $ 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning Cash Balance. Ending $ 64,000 $ 72.000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 55PSA
Related questions
Question
Use the information provided (first picture) to calculate the return on assets and return on equity ratios for 2021 and put your answer in the template provided (second picture)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning