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NIVEA LAND Protit for the period 12a. 44.400 FIZZ LIMITED Statement of changes in equity for the year ended 31 December 2020 Share Retained Total
NIVEA LAND Protit for the period 12a. 44.400 FIZZ LIMITED Statement of changes in equity for the year ended 31 December 2020 Share Retained Total capital earnings NS NS NS Balance at 01/01/x6 100,000 10,000 110,000 Profit for the period 44,400 44,400 Dividends 120.000 (20,000) Issue ol share capital 10,000 10,000 Balance at 31/12/X6 110,000 34,400 144.400 Fizz Limited Statement of Financial Position as at 31 December 2020 2020 NS ASSETS 2019 NS Non-current assets Equipment at cost Accumulated depreciation 85,000 100,000 15,000 80,000 89,000 9,000 Current assets Inventories Accounts receivable Selling expenses paid in advance Bank 109,800 60.000 12,000 1.200 36,600 194 RRO 70,500 40.000 20,000 1,500 9,000 150.500 110,000 34 400 100,000 10,000 EQUITY ANSD LIABILITIES Equity Share capital Retained earnings Non-current liabilities Loan Current liabilities Account payable Administration expenses payable Current tax payable income tax 10,000 20,000 20.600 300 19,000 194 BRO 10,000 500 10,000 150.500 Equipment costing N$15,000 was purchased during the year when certain other equipment was traded in as part of the purchase price REQUIRED a) Prepare a statement of cash lows of Fizz Limited for the year ended 31 December 2020 using the direct method (25 marks) b) Prepare the nate to the statement of cash flows for the reconciliation of profit before tax to cash generated from profits for the year ended 31 December (10 marks) NIVEA LAND Protit for the period 12a. 44.400 FIZZ LIMITED Statement of changes in equity for the year ended 31 December 2020 Share Retained Total capital earnings NS NS NS Balance at 01/01/x6 100,000 10,000 110,000 Profit for the period 44,400 44,400 Dividends 120.000 (20,000) Issue ol share capital 10,000 10,000 Balance at 31/12/X6 110,000 34,400 144.400 Fizz Limited Statement of Financial Position as at 31 December 2020 2020 NS ASSETS 2019 NS Non-current assets Equipment at cost Accumulated depreciation 85,000 100,000 15,000 80,000 89,000 9,000 Current assets Inventories Accounts receivable Selling expenses paid in advance Bank 109,800 60.000 12,000 1.200 36,600 194 RRO 70,500 40.000 20,000 1,500 9,000 150.500 110,000 34 400 100,000 10,000 EQUITY ANSD LIABILITIES Equity Share capital Retained earnings Non-current liabilities Loan Current liabilities Account payable Administration expenses payable Current tax payable income tax 10,000 20,000 20.600 300 19,000 194 BRO 10,000 500 10,000 150.500 Equipment costing N$15,000 was purchased during the year when certain other equipment was traded in as part of the purchase price REQUIRED a) Prepare a statement of cash lows of Fizz Limited for the year ended 31 December 2020 using the direct method (25 marks) b) Prepare the nate to the statement of cash flows for the reconciliation of profit before tax to cash generated from profits for the year ended 31 December (10 marks)
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