AMAZING PACKAGING (PTY) LTD

Statement of Financial Position as at 30 June 2022

Assets
Non-current assets
Land at cost	1	3 000 000	1 500 000
Machinery	1	2 179 375	2 640 000
Furniture	1	112 250	105 000
Total non-current assets		5 291 625	4 245 000
Current assets
Inventory		3 100 000	2 700 000
Trade receivables		4 200 000	3 555 000
Bank and cash		2 110 000	-
Total current assets		9 410 000	6 255 000
Total assets		14 701 625	10 500 000
Equity and Liabilities
Ordinary share capital	2	3 564 245	1 450 000
Retained earnings		1 047 380	745 000
Total equity		4 611 625	2 195 000
Non-current liabilities
Loans		2 595 000	2 255 000
Total non-current liabilities		2 595 000	2 255 000
Current liabilities
Trade payables		2 600 000	3 100 000
Short term loan		3 655 000	2 600 000
Taxation payable: SARS		140 000	90 000
Shareholders for dividends		1 100 000	-
Bank overdraft		-	260 000
Total current liabilities		7 495 000	6 050 000
Total liabilities		10 090 000	8 305 000
Total equity and liabilities		14 701 625	10 500 000

Dividends

Ordinary dividends amounting to 1 100 000 were declared during the current financial year but were still outstanding at year end.

Prepare the Statement of Cashflows using the indirect method for the financial year ended 30 June 2022 in accordance with International Financial Reporting Standards (IFRS).

QUESTION 3 (49 marks) The following are the draft annual financial statements of Amazing Packaging (Pty) Ltd for the year ended 30 June 2022 : AMAZING PACKAGING (PTY) LTD Statement of Profit or Loss and Other Comprehensive Income for the year ended QUESTION 3 (49 marks) The following are the draft annual financial statements of Amazing Packaging (Pty) Ltd for the year ended 30 June 2022 : AMAZING PACKAGING (PTY) LTD Statement of Profit or Loss and Other Comprehensive Income for the year ended