hello, prepare the cashflow statement for the year ending 31 March 2018
(b) XYZ Ltd close its books every 31 December. Given below are the comparative statement of financial position of XYZ Ltd for the year ended 31 March 2017 and 2018. XYZ LTD Statement of Financial Position 8 2018 2017 (000) 20 (000) ASSETS Non-Current Assets Land and Building 95,000 55,000 Motor vehicles 46,000 35,000 Furniture and Fixtures 25,000 28,000 166,000 118,000 Current Asset Stock 28,000 20,000 Debtors 14,000 16,000 Prepayments 6,000 8,000 Bank balance and cash in hand 3,000 Total Assets 48,000 47,000 214,000 165,000 EQUITY AND LIABILITIES: Capital and Reserves Ordinary share capital 80,090 50,000 Share premium 20,000 15,000 Revaluation reserve 15,000 25,000 Retained profit 18,000 15,000 133,000 105,000 Non-Current Liabilities 10% debentures 30,000 20,000 Bank loan 6,000 10,000 Page 4 of 7 36,000 30,000 Current Liabilities: Trade creditors 23,000 15,000 Interest payable 9,000 6,000 Current tax 6,000 5,000 Proposed dividends 3,000 4,000 Bank overdraft 4,000 45,000 30,000 A... Total equity and liabilities 214,000 165,000 The following additional information is provided for the year 31 March 2018: (1) Land and buildings were revalued upwards by 10,000,000 during the year. In addition, an acquisition of land and building of Kshs. 40,000,000 was made. (2) Depreciation on motor vehicles amounting to Kshs. 40,000,000 was provided in the profit and loss account for the year. Motor vehicles having a net book value of Kshs.8,000,000 were sold at a profit of Kshs.3,000,000 during the year. (3) Bonus share of Kshs.20,000,000 were issued at par during the year by utilizing the revaluation reserve. XYZ ordinary shares have a par value of Kshs.20. (4) Interest expenses charged to the profit and loss account for the year amounted to Kshs.800,000. (5) During the year, tax amounting to Kshs.6,000,000 was paid. (6) Total dividend for the year (both interim and proposed) amounted to Kshs. 5,000,000. (7) The profit after tax for the year amounted to Kshs. 8,000,000. Prepare cashflow statement for the year ended 31 March, 2018. (8 marks)