PRACTISE QUESTION

QUESTIONS

Notes

i. During the year non-current assets which had cost GHS800,000, with a carrying value of GHS350,000, were sold for GHS500,000.

ii. The capital surplus increased from the revaluation of some land that was not being depreciated.

iii. The 2021 income tax liability was settled at the amount provided for at 31st December 2021.

iv. The additional loan notes were issued on 1 January, 2022. Interest was paid on 30th June 2022 and 31st December, 2022.

Cv. Dividends paid during the year amounted to GHS750,000. Required: Prepare the company's statement of cash flows for the year ended 31st December 2022 , using the indirect method, adopting the format in IAS 7 , Statement of cash flows.

The following information is available for MERCY, a limited liability company: The following information is available for MERCY, a limited liability company