You have been provided with the Statements of financial position of Solvent plc as follows: You are
Question:
You have been provided with the Statements of financial position of Solvent plc as follows:
You are informed as follows:
(a) Property, plant and equipment is made up as follows:
(b) Land and buildings were again revalued as at 1 July 2011 and £38,000 of the revaluation reserve, being the extra depreciation arising because of the revaluation exercise, was transferred to Retained earnings. No further acquisition or disposal of land and buildings took place during the year.
(c) A plant which had been acquired for £180,000 several years earlier and depreciated by £54,000 until the date of disposal was sold resulting in a loss of £39,000.
(d) Extracts from the Statement of income for the year ended 30 June 2012 are are shown.
(e) Some of the Loan notes were redeemed during the year at a premium of 10%.
(f) A bonus issue of one for five was made and the cost written off from Share premium.
Required:
Prepare a Statement of cash flows for the year ended 30 June 2012.
Step by Step Answer:
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict