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Question 4 Study the scenario and complete the question that follows: Willowvale Group Limited The following information was extracted on 31 December 2019 from the
Question 4 Study the scenario and complete the question that follows: Willowvale Group Limited The following information was extracted on 31 December 2019 from the records of Willowvale Group Limited, a company, after the gross profit was determined for the year: Additional information 1. The long-term loan was entered into on 1 January 2019. The interest was paid on 31 December 2019 , but no entry has been made. 2. On 31 December 2019, a vehicle with a cost price of R25 000 and accumulated depreciation of R20 000, was sold for R10 000 cash to BM Motors. No entry has yet been made for this transaction. Source: Waka, L. 2023 Page 7 of 14 Required Prepare the statement of cash flow for the year ended 31 December 2019 in accordance with the IFRS and the requirements of the Companies Act. (20 Marks)
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