Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: e the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 pember 2021. Adjustments for non cash Items: Depreciation on buildings ORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Depreciation on plant and machinery PSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) ATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 $1,080,000 $ (64,000) $ (192,000) es 3312 000 2 800 000 Cash Flow from Operations Less: Interest Paid st of sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 ss profit 1 696 000 1240 000 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments ing and administrative expenses (672 000) (568 000) Ordinary share capital $ (352,000) $ (304,000) $ (240,000) erating profit Retained earnings 896 000 480 000 1 024 000 672 000 erest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Et before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable Dividend Paid $ (240,000) $ 320,000 128 000 64 000 (256 000) (172 000) Issuance of Long term Loans Dividends payable t after tax 704 000 468 000 208 000 160 00 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000
Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: e the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 pember 2021. Adjustments for non cash Items: Depreciation on buildings ORMATION 2021 (R) 2020 (R) $ 96,000 $ 160,000 $ 256,000 Depreciation on plant and machinery PSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) ATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Inventories 384 000 400 000 $1,080,000 $ (64,000) $ (192,000) es 3312 000 2 800 000 Cash Flow from Operations Less: Interest Paid st of sales (1616 000) (1 560 000) Accounts receivable 408 000 256 000 Less: Income Tax Paid Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 ss profit 1 696 000 1240 000 1600 000 1600 000 Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments ing and administrative expenses (672 000) (568 000) Ordinary share capital $ (352,000) $ (304,000) $ (240,000) erating profit Retained earnings 896 000 480 000 1 024 000 672 000 erest expense (64 000) (32 000) Long-term loan 640 000 320 000 Net Cash Flow from Investing Activities $ (896,000) Et before tax 960 000 640 000 Accounts payable 384 000 448 000 Cash Flow from Financing Activities: Income tax payable Dividend Paid $ (240,000) $ 320,000 128 000 64 000 (256 000) (172 000) Issuance of Long term Loans Dividends payable t after tax 704 000 468 000 208 000 160 00 Net Cash Flow from Financing Activities 80,000 Additional information Net Change in Cash 8,000
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
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