The following information has been extracted from the books of Hanson Limited for the year to 31
Question:
The following information has been extracted from the books of Hanson Limited for the year to 31 December 2012:
Additional information:
1 The directors are extremely concerned about the large bank overdraft as at 31 December 2012 and they attribute this mainly to the increase in trade accounts receivable as a result of alleged poor credit control.
2 During the year to 31 December 2012, non-current assets originally costing $£ 11,000,000$ were sold for $£ 2,000,000$. The accumulated depreciation on these assets as at 31 December 2011 was $£ 7,600,000$.
\section*{Required: $\square$}
Prepare a statement of cash flows using the IAS 7 indirect method for the year to 31 December 2012.
Step by Step Answer:
Frank Woods Business Accounting Volume 2
ISBN: 9780273767923
12th Edition
Authors: Frank Wood, Ph.D. Sangster, Alan