The statement of financial position of Chamber Ltd. as at 31 December 2020 and 2021 and a summary of the income statement for the year ended 31 December 2021 are as follows: Statement of financial position as at 31 December Non-current assets Land and buildings Plant and machinery Investment Current assets Inventory Trade receivables Cash at bank Total assets Liabilities and equity Current liabilities as Bank overdraft Trade payables Corporation tax Interest payable Non-current liabilities Debentures Capital and reserves $1 ordinary shares Share premium account Revaluation reserve Retained profits Total liabilities and equity 2020 $'000 37,000 16,500 6,000 59,500 11,412 12,784 4,713 28,909 88,409 13,812 1,800 200 15,812 13,000 28,812 20,000 10,000 3,000 26,597 59,597 88,409 2021 $'000 45,000 18,500 6,000 69,500 13,631 10,987 24,618 94,118 490 15,713 250 250 16,703 2,800 19,503 28,000 12,000 8,000 26,615 74,615 94,118

The statement of financial position of Chamber Ltd. as at 31 December 2020 and 2021 and a summary of the income statement for the year ended 31 December 2021 are as follows: Statement of financial position as at 31 December Non-current assets Land and buildings Plant and machinery Investment Current assets Inventory Trade receivables Cash at bank Total assets Liabilities and equity Current liabilities as Bank overdraft Trade payables Corporation tax Interest payable Non-current liabilities Debentures Capital and reserves $1 ordinary shares Share premium account Revaluation reserve Retained profits Total liabilities and equity 2020 $'000 37,000 16,500 6,000 59,500 11,412 12,784 4,713 28,909 88,409 13,812 1,800 200 15,812 13,000 28,812 20,000 10,000 3,000 26,597 59,597 88,409 2021 $'000 45,000 18,500 6,000 69,500 13,631 10,987 24,618 94,118 490 15,713 250 250 16,703 2,800 19,503 28,000 12,000 8,000 26,615 74,615 94,118

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 52PSA

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