Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 Issued share capital: 100000 Ordinary shares were sold for cash during the current financial period. 3 Dividends of R30 000 were declared and paid
2 Issued share capital: 100000 Ordinary shares were sold for cash during the current financial period. 3 Dividends of R30 000 were declared and paid on 20 June 2023. 4 Equipment with a carrying amount of R240 000 was sold and new equipment was purchased during the current financial year. 5 Bongo (Pty) Ltd raised a long term loan of R168 000 in May 2023. 6 The following information was extracted from the statement of comprehensive income for the year ended 30 June 2023: - Sales for the year was R1 464000 - Rental income was R26 400. - Profit on disposal of equipment R36 000 - Depreciation R48 000 - Interest expense R50 400 - Income tax expense R147 600 - Profit after tax R222 000. Required: Prepare the statement of cash flows for Bongo (Pty) Ltd for the financial year ended 30 June 2023 in compliance with the requirements of the International Financial Reporting Standards (IFRS) in as much as the given information allows. Use the indirect method. QUESTION THREE [25] The annual financial statements of Bongo (Pty) Ltd are in the final stages of completion for the year ended 30 June 2023. The following information was extracted to prepare the statement of cash flows for the current financial year. Bongo (Pty ) Ltd Statement of financial position as at 30 June 2023 (with comparative values for 30 June 2022): Additional Information: 1 Authorised share capital: 1000000 Ordinary shares
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started