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cash flow statement is required You have the following comparative financial position at the end of 2019 and income statement for 2019: 2019 2018 LTI
cash flow statement is required
You have the following comparative financial position at the end of 2019 and income statement for 2019: 2019 2018 LTI Investment held for collection Non-trading investment 120,000 70,000 60,000 0 PPE Land 50,000 40,000 Building 100,000 100,00 0 55,000 Less Accumulated dep 45.000 (50,000) 50,000 Equipment Accumulated dep 40,000 (27,000 ) 70,000 40,000 13,000 30,000 Intangible assets Patent Goodwill 28,000 10,000 30,000 10,000 20,000 100,000 81,000 527,000 30,000 140,000 12,000 412,000 Current assets Inventory Account receivable Cash Total Equity Share capital Retained earning Treasury shares Accumulated OCI loss 454,000 70,000 (20,000) (17,000) 357,000 15,000 0 (15,000) Liabilities 10,000 45,000 Non-current liabilities Bond payable Current labilities Account payable 30,000 10,000 Total 527,000 412,000 1. Equipment with a cost of 30,000 and accumulated depreciation of 20,000 was sold for 12,000 2. Investment held for collection was sold with a loss of 10,000, the cost of the investment was 20,000 3. Bond with a value of 35,000 was retired 4. Dividends paid 15,000 5. Net income 70,000 6. Amortization expense recorded in the income statement is 2000, Depreciation of building is 5,000, Depreciation of equipment is 7,000 Step by Step Solution
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