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Note 2: The investments listed in non-current assets are shares beld in another company, all valued at cost. Note 3: Depreciation for the year was
Note 2: The investments listed in non-current assets are shares beld in another company, all valued at cost. Note 3: Depreciation for the year was $60,000. Note 4: Dividends paid in 2022 was 560,000(2021:540,000). Required: (a) Prepare a cash flow statement, for Lambert Ldd for the year ended 31 December 2022. (15 marks) (b) Briefly explain, using your answer to (a) why the company has a larger bank overdraft at 31 December 2022 than it did on 31 December 202I even though it had retained profits for the year. (5marks) Total 20 marks u are given the following information: 1. Inventory at 31 December 2022 cost $47,000. Included in this inventory are items which cost $1,400 which are now obsolete and are expected to be sold for $200
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