The following information is provided by Kari Limited KARI LIMITED FINANCIAL POSITION STATEMENT AS AT 31ST MAR 2010 2010 2009 Shs’000’ Sh ‘000’ ASSETS NON-CURRENT ASSETS Land and Buildings 95,000 55,000 Motor Vans 46,000 35,000 Fixtures and Fittings 25,000 28,000 166,000 118,000 CURRENT ASSETS Stock 28,000 20,000 Debtors 14,000 16,000 Prepayments 6,000 8,000 Bank and cash Balance 3,000 48,000 47,000 Total assets 214,000 165,000 Equity and Liabilities Capital and reserves Ordinary share capital Share premium 80,000 50,000 Revaluation reserve 20,000 15,000 Retained profit 15,000 15,000 18,000 15,000 36,000 30,000 NON CURRENT LIABILITIES 10% Debenture loan 30,000 20,000 Bank Loan 6,000 10,000 CURRENT LIABILITIES Trade creditors 23,000 15,000 Interest payable 9,000 6,000 Current Tax 6,000 5,000 Bank overdraft 4,000 Proposed dividend 3,000 4,000 45,000 30,000 Total Equity and liabilities 214,000 214,000 Land and building were revalued upwards by sh 10,000,000 during the year.In addition and acquisition of land and building of sh 40,000,000 was made Depreciation on motor vans amounting to sh 4,000,000 was provided in the profit and loss account for the year ,Motor vans having a net value of shs 8,000,000 were sold at profit of sh 3,000,000 during the year Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve.Kari ltd ordinary shares have a par value of shs 20 Interest expense charged to the profit and loss account for the year amounted to shs 8,000,000 During the year,tax amounting to 6,000,000 was paid Total didvidend for the year (Both interim and final )amounted to 5,000,000 Net profit after tax for the year amounted to shs 8,000,000 Required Prepare a cash flow statement for the year ended 31st March 2010 in accordance to IAS7 using the indirect method for Kari Ltd

The following information is provided by Kari Limited KARI LIMITED FINANCIAL POSITION STATEMENT AS AT 31ST MAR 2010 2010 2009 Shs’000’ Sh ‘000’ ASSETS NON-CURRENT ASSETS Land and Buildings 95,000 55,000 Motor Vans 46,000 35,000 Fixtures and Fittings 25,000 28,000 166,000 118,000 CURRENT ASSETS Stock 28,000 20,000 Debtors 14,000 16,000 Prepayments 6,000 8,000 Bank and cash Balance 3,000 48,000 47,000 Total assets 214,000 165,000 Equity and Liabilities Capital and reserves Ordinary share capital Share premium 80,000 50,000 Revaluation reserve 20,000 15,000 Retained profit 15,000 15,000 18,000 15,000 36,000 30,000 NON CURRENT LIABILITIES 10% Debenture loan 30,000 20,000 Bank Loan 6,000 10,000 CURRENT LIABILITIES Trade creditors 23,000 15,000 Interest payable 9,000 6,000 Current Tax 6,000 5,000 Bank overdraft 4,000 Proposed dividend 3,000 4,000 45,000 30,000 Total Equity and liabilities 214,000 214,000 Land and building were revalued upwards by sh 10,000,000 during the year.In addition and acquisition of land and building of sh 40,000,000 was made Depreciation on motor vans amounting to sh 4,000,000 was provided in the profit and loss account for the year ,Motor vans having a net value of shs 8,000,000 were sold at profit of sh 3,000,000 during the year Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve.Kari ltd ordinary shares have a par value of shs 20 Interest expense charged to the profit and loss account for the year amounted to shs 8,000,000 During the year,tax amounting to 6,000,000 was paid Total didvidend for the year (Both interim and final )amounted to 5,000,000 Net profit after tax for the year amounted to shs 8,000,000 Required Prepare a cash flow statement for the year ended 31st March 2010 in accordance to IAS7 using the indirect method for Kari Ltd

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following information is provided by Kari Limited

KARI LIMITED

FINANCIAL POSITION STATEMENT AS AT 31^ST MAR 2010

	2010	2009
	Shs’000’	Sh ‘000’
ASSETS
NON-CURRENT ASSETS
Land and Buildings	95,000	55,000
Motor Vans	46,000	35,000
Fixtures and Fittings	25,000	28,000
	166,000	118,000
CURRENT ASSETS
Stock	28,000	20,000
Debtors	14,000	16,000
Prepayments	6,000	8,000
Bank and cash Balance		3,000
	48,000	47,000
Total assets	214,000	165,000

Equity and Liabilities
Capital and reserves
Ordinary share capital
Share premium	80,000	50,000
Revaluation reserve	20,000	15,000
Retained profit	15,000	15,000
	18,000	15,000
	36,000	30,000
NON CURRENT LIABILITIES
10% Debenture loan	30,000	20,000
Bank Loan	6,000	10,000

CURRENT LIABILITIES
Trade creditors	23,000	15,000
Interest payable	9,000	6,000
Current Tax	6,000	5,000
Bank overdraft	4,000
Proposed dividend	3,000	4,000
	45,000	30,000
Total Equity and liabilities	214,000	214,000

Land and building were revalued upwards by sh 10,000,000 during the year.In addition and acquisition of land and building of sh 40,000,000 was made
Depreciation on motor vans amounting to sh 4,000,000 was provided in the profit and loss account for the year ,Motor vans having a net value of shs 8,000,000 were sold at profit of sh 3,000,000 during the year
Bonus shares of sh 20,000,000 were issued at per during the year by utilizing the revaluation reserve.Kari ltd ordinary shares have a par value of shs 20
Interest expense charged to the profit and loss account for the year amounted to shs 8,000,000
During the year,tax amounting to 6,000,000 was paid
Total didvidend for the year (Both interim and final )amounted to 5,000,000
Net profit after tax for the year amounted to shs 8,000,000

Required

Prepare a cash flow statement for the year ended 31^st March 2010 in accordance to IAS7 using the indirect method for Kari Ltd

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