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Please show all calculations and steps on how you did this? QUESTION 5 Use the following information of NGIDI LTD. to prepare the Statement of
Please show all calculations and steps on how you did this?
QUESTION 5 Use the following information of NGIDI LTD. to prepare the Statement of cash flow for the year ended 28 February 2018. STATEMENT OF CASH FLOW Extracts from Statement of Comprehensive Income Sales Cost of Sales Depreciation on equipment Depreciation on vehicles Operating profit before interest and tax Interest on loan Income Tax 1 200 000 840 000 21 000 64 000 246 200 26 000 90 000 Extracts from Statement of Financial position 2018 2017 Fixed Assets 880 000 600 000 Current Assets Inventory Trade and other Receivables Cash and Cash Equivalents 141 000 95 500 14 200 144 600 88 600 2 500 Shareholders' Equity Ordinary Share Capital Retained Earnings 720 000 480 000 139 140 75 000 Non Current Liabilities Loan 200 000 150 000 Current Liabilities Trade and other Payables 72 000 110 700 Bank overdraft 20 000 Additional information 1. Fixed Assets: - Additional plant and machinery were purchased during 2018. - Old equipment was sold for its carrying value of R24 000 Trade and other Receivables Debtors Accrued Income SARS: Income Tax 2018 90 000 5 500 2017 79 000 2 600 7 000 88 600 95 500 2. Trade and other Payables 2018 21 000 11 000 40 000 72 000 2017 75 700 Creditors SARS: Income Tax Shareholders for Dividends 35 000 110 700 NB: An interim dividend of R41 060 was paid out. 3. Cash and Cash Equivalents 2018 10 700 3 000 2017 Bank Cash Float 2 200 300 2 500 Cash 500 14 200
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