Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fixed Asset Land & Building Vehicles Equipment Total Carrying value at beginning of year 2,700 000 - 2,300 000 5 000 000 Cost 2,700 000

image text in transcribed

image text in transcribed

Fixed Asset Land & Building Vehicles Equipment Total

Carrying value at beginning of year

2,700 000 - 2,300 000 5 000 000
Cost 2,700 000 - 3,100 000 5,800 000

Accumulated depreciation

(800 000) (800 000)
Movements
Additions at cost 2,450 000 350 000
Depreciation for the year (200 000) (200 000)
Disposals at carrying value (600 000) - (600 000)
Carrying value at end of year 2,100 000 2,450 000 2,450 000 7, 000 000
Cost 2,100 000 2,450 000 3,450 000 800 000
Accumulated depreciation - - 1,000 000 1,000 000

image text in transcribed

Question1: Prepare the Cash Flow Statement for the year ended 30 June 2022

Question 2: The business bought a significant amount of new fixed assets. What did they buy and how did they pay for these fixed assets? Provide figures to support your answer. I need all calculations

AJ Limited Statement of Comprehensive Income for the year ended 30 June 2022 A.J Limited Statement of Financial Position as at 30 June 2022 \begin{tabular}{|c|c|c|} \hline & & \\ \hline Shareholders' Equity and Liabilities & & \\ \hline Ordinary shareholders' equity & 6,670,000 & 5,150,000 \\ \hline Ordinary share capital (issued @ R5.00) & 5,000,000 & 4,000,000 \\ \hline Share premium & 800,000 & 600,000 \\ \hline Retained income & 870,000 & 550,000 \\ \hline Non-current liabilities & 1,440,000 & 1,160,000 \\ \hline Loan from AF Limited & 1,440,000 & 1,160,000 \\ \hline Current liabilities & 1,180,000 & 1,190,000 \\ \hline Creditors & 1,180,000 & 1,190,000 \\ \hline Total Equity and Liabilities & 9,290,000 & 7,500,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline 2. Cash and Cash Equivalents & 2022 & 2021 \\ \hline Bank & 48,000 & 80,000 \\ \hline \multirow[t]{2}{*}{ Cash float } & 2,000 & - \\ \hline & 50,000 & 80,000 \\ \hline 3. Retained Income & 2022 & 2021 \\ \hline Retained income at beginning of year & 550,000 & 600,000 \\ \hline Net profit after tax & 920,000 & 450,000 \\ \hline Dividends paid and declared & (600,000) & (500,000) \\ \hline Retained income at end of year & 870,000 & 550,000 \\ \hline \multicolumn{3}{|l|}{ 4. Trade and Other Payables } \\ \hline Trade creditors & 688,000 & 738,000 \\ \hline Expenses payable (Interest on loan") & 30,000 & 50,000 \\ \hline SARS (Income tax) & 62,000 & 94,000 \\ \hline Shareholders for dividends & 400,000 & 308,000 \\ \hline & 1,180,000 & 1,190,000 \\ \hline "Interest on loan is not capitalised & & \\ \hline \end{tabular} AJ Limited Statement of Comprehensive Income for the year ended 30 June 2022 A.J Limited Statement of Financial Position as at 30 June 2022 \begin{tabular}{|c|c|c|} \hline & & \\ \hline Shareholders' Equity and Liabilities & & \\ \hline Ordinary shareholders' equity & 6,670,000 & 5,150,000 \\ \hline Ordinary share capital (issued @ R5.00) & 5,000,000 & 4,000,000 \\ \hline Share premium & 800,000 & 600,000 \\ \hline Retained income & 870,000 & 550,000 \\ \hline Non-current liabilities & 1,440,000 & 1,160,000 \\ \hline Loan from AF Limited & 1,440,000 & 1,160,000 \\ \hline Current liabilities & 1,180,000 & 1,190,000 \\ \hline Creditors & 1,180,000 & 1,190,000 \\ \hline Total Equity and Liabilities & 9,290,000 & 7,500,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline 2. Cash and Cash Equivalents & 2022 & 2021 \\ \hline Bank & 48,000 & 80,000 \\ \hline \multirow[t]{2}{*}{ Cash float } & 2,000 & - \\ \hline & 50,000 & 80,000 \\ \hline 3. Retained Income & 2022 & 2021 \\ \hline Retained income at beginning of year & 550,000 & 600,000 \\ \hline Net profit after tax & 920,000 & 450,000 \\ \hline Dividends paid and declared & (600,000) & (500,000) \\ \hline Retained income at end of year & 870,000 & 550,000 \\ \hline \multicolumn{3}{|l|}{ 4. Trade and Other Payables } \\ \hline Trade creditors & 688,000 & 738,000 \\ \hline Expenses payable (Interest on loan") & 30,000 & 50,000 \\ \hline SARS (Income tax) & 62,000 & 94,000 \\ \hline Shareholders for dividends & 400,000 & 308,000 \\ \hline & 1,180,000 & 1,190,000 \\ \hline "Interest on loan is not capitalised & & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Public Private Partnership Handbook

Authors: Malcolm Morley

1st Edition

0749474262, 978-0749474263

More Books

Students also viewed these Finance questions

Question

understand the meaning of the terms discipline and grievance

Answered: 1 week ago