REQUIRED: Use the information provided below to prepare the Cash Flow Statement of Starlite Limited for the
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REQUIRED: Use the information provided below to prepare the Cash Flow Statement of Starlite Limited for the year ended December INFORMATIONThe information given below was obtained from the books of Starlite Limited on December the end of the financial year:STATEMENT OF FINANCIAL POSITION AS AT DECEMBER:R RASSETSProperty, plant and equipment Longterm investments Inventories Trade and other receivables Bank EQUITY AND LIABILITIESOrdinary Share Capital Retained Income Trade and other payables Company tax payable EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER RSales Cost of sales Gross profit Depreciation Other expenses Operating profit Interest income Profit before tax Company tax Profit after tax ADDITIONAL INFORMATION All purchases and sales of inventories were on credit. Equipment was purchased for cash. A vehicle with a cost price of R and accumulated depreciation of R was sold at carrying value. Longterm investments were increased during the financial year ended December Interim dividends paid during amounted to R No final dividends were declared. The issued share capital for the year ended December consisted of ordinary shares. Trade and other receivables comprised trade debtors only. Trade and other payables consisted of trade creditors only
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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