Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question is now clear please help ADEMY I Business Fin X 0 file:///C/Users/Mashudu/Desktop/BusinessFinance%20notes/ADBM%20%201%20Business%20Finance%20New.prt.pdf QUESTION 2 (20 Mario REQUIRED Use the information provided below to complete

image text in transcribed

image text in transcribed

image text in transcribed

question is now clear please help

ADEMY I Business Fin X 0 file:///C/Users/Mashudu/Desktop/BusinessFinance%20notes/ADBM%20%201%20Business%20Finance%20New.prt.pdf QUESTION 2 (20 Mario REQUIRED Use the information provided below to complete the Cash Flow Statement of Silverline Lid for the year ended 31 December 2019. Use the following format as a guide (Commence with the R556 000 for the profit before working capital changes) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2019 R 556 000 Cash flows from operating activities Profit before working capital changes Working capital changes Increase/decrease in inventory Increase/decrease in receivables Increase/decrease in payables Cash generated from operations Interest paid Interest income Dividends paid Income tax paid Net cash inflow from operating activities Cash flow from investing activities Non-current assets purchased Net cash flow from investing activities Cash flow from financing activities Proceeds from issue of ordinary shares Long-term borrowings increase decrease Net increase decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year EADEM Y 1 Business Finx 0 file:///C:/Users/Mashudu/Desktop/BusinessFinance%20notes/ADBM%201%201%20Business%20Finance%20New.prt.pl INFORMATION Silverline Ltd's Statement of Comprehensive Income for the year ended 31 December 2019 and Statement Financial Position as at 31 December 2018 and 2019 are as follows: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 R Sales (all credit) 1 152 000 Cost of sales (614 000) Gross profit 538 000 Other operating income 42 000 Gross operating income 580 000 Distribution expenses (130 000) Administrative expenses (52 000) 398 000 Operating profit 34 000 Interest income (46000) Interest expense 386 000 Profit before tax (92000) Income tax 294 000 Profit after tax ADEMY 1 Business in O file:///C/Users/Mashudu/Desktop/BusinessFinance%20notes/ADBM%204%201%20Business20Financei20New.prl.pdf 2018 R STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2019 R ASSETS Non-current assets 1 132 000 Property, plant and equipment 1 132 000 Current assets 360 000 Inventories 82 000 Trade and other receivables (All accounts receivable) 200 000 Cash and cash equivalents 78 000 Total assets 1492 000 1 100 000 1 100 000 330 000 88 000 212 000 30 000 1430 000 2019 R 2018 R EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Long-term borrowings Current liabilities Trade and other payables SARS Income tax Total equity and liabilities 725 000 480 000 246 000 500 000 500 000 266 000 220 000 46 000 1 492 000 352 000 300 000 52 000 800 000 800 000 278 000 246 000 32 000 1 430 000 Additional information 1 Additional plant and machinery were purchased during 2019. There were no other non-current asset acquisitions or disposals Depreciation for 2019 amounted to R158 000 2 An interim dividend of R100 000 was paid on ordinary shares during 2019 No final dividends were declared

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Systems Control And Audit

Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board

1st Edition

1781639426, 978-1781639429

More Books

Students also viewed these Accounting questions

Question

What is the Z score for a score of 150?

Answered: 1 week ago

Question

6. Explain the strengths of a dialectical approach.

Answered: 1 week ago

Question

2. Discuss the types of messages that are communicated nonverbally.

Answered: 1 week ago