Question
Read the content belowand answer the questions that follow. The following areextracts from the financial statements of Cashmore (Pty)Ltd, a haulagecompany: Extract of the Statement
Read the content belowand answer the questions that follow.
The following areextracts from the financial statements of Cashmore (Pty)Ltd, a haulagecompany:
Extract of the Statement of Comprehensive Income of Cashmore (Pty) Ltd for the year ended30 September 2021
Statement of Financial Position on Cashmore (Pty)Ltd at 30 September 2021
20212020 R'000R'000 ASSETS Non-current assets Property, Plant and Equipment (@ carrying value)9 60210 200 Current assets Inventories3 1423 380 Trade receivables10 2039 431 Cash and cashequivalents637725 TOTAL ASSETS23 58423 736Equity and liabilities Ordinary share capital(Par value of R0.50)5 0005 000 Retained earnings6 4584 607 Non-current liabilities Long-term loan3 5005 000 Current liabilities Trade payables7 8028 222 Tax payable824907 TOTAL EQUITY AND LIABILITIES23 58423 736
Notes to the financial statements: Property, Plant and Equipment
Additional information
- During the financial yearended 30 September 2021, a delivery vehicle was soldat carrying value.
- Additional equipment was purchased during the financial year ended 30September 2021.
- The company declared interim dividends of 5 centsa share on 30 June
2021.
Delivery vehiclesEquipment R'000R'000Cost (@ 1October 2020)5 4628 242Accumulateddepreciation1 8241 680Carrying value at 1 July 20203 6386 562 Additions at cost-1 500Disposal at carrying value?-Depreciationfor the year8461 044 Cost (@30 September 2021)4 662?Accumulateddepreciation2 078?Carrying value at 1 July 20202 584?
Using the indirect method of presentation, prepare and present the statement of cash flows of Cashmore (Pty) Ltd for the yearended 30 September2021.
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