Accounting Question 5 Cash Flow - Word TABLE TOOLS ? 0 - 5X FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW DESIGN LAYOUT Fahim Aly f Cut . A A Aa- A . = . THE N 1 AaBbCcl AaBbCcl AdE AaBbCc AaBbCc AaBbCc AaBbCc AaBbCc AaBbCCD. Ad B| AaBbCCD Find Paste Copy Sac Replace Format Painter BIU - abe X2 X A Z A . = = 1 2. 1 Normal 1 No Spac... Heading 1 Heading 2 Heading 3 Heading 4 Heading 5 Heading 6 Heading 7 Title Subtitle 41 Select ~ Clipboard Font Paragraph Styles Editing Draft the statement of cash flows for the year ended 31 December 2019 method in QUESTION FIVE compliance with international financial reporting standards in as much as the given Additional information: information allows. The indirect method is in use. Show all workings. 1. The following was extracted from the statement of comprehensive income and statement of The following information was obtained from the accounting records of First Lid: Summarised financial position for year ended 31 December changes in equity for financial year ended 31 December 2019. Income: R 2019 2018 Profit on sale of land and buildings 7 000 ASSETS R R Profit on sale of machinery 300 Land and buildings 104 865 95 470 Expenses Investments Nil 1 10 Depreciation 1 000 Machinery at carrying amount 6 500 1 600 Administration expenses 29 730 Cost 8 700 5 400 12 00 Accumulated depreciation Selling expense (2 200) 3 800) Inventories 12 000 9 000 Loss on sale of investment 500 Trade debtors 10 205 30 700 Interest expense 20 Cash at bank 13 500 Nil Taxation expense 18 000 23 00 TOTAL ASSETS Profit for the year 147 070 137 870 Appropriation Dividends declared 18 400 EQUITY & LIABILITIES Equity 100 070 78 470 2. The investments of the company were sold for R600 cash. Ordinary share capital 85 000 68 000 . A portion of the land and buildings with a cost price of R11 000 was sold during the year for Retained earnings 15 07 10 47 R18 000 cash. Additional land was purchased for R20 395 cash. 4. Machinery to the value of R6 400 was purchased for cash. Machinery with a carrying Liabilities 47 000 59 40 amount of R500 was sold at a profit of R300. Long term loan 20 000 30 000 5. The company paid a portion of the long term liability. No further long term loans were taken. Bank overdraft Nil Trade creditors 700 . The company issued new ordinary shares during the year. 600 ncome tax payable 9 20 000 4 100 Dividends payable 18 400 15 40 Required: TOTAL EQUITY AND LIABILITIES 147 070 137 870 11 . PAGE 2 OF 3 122 OF 360 WORDS LX ENGLISH (SOUTH AFRICA) 60% CHEN ON X XI W WE ENG 18:08 INTL 2020/09/22