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SCENARIO 2 The following information is taken from the financial statements of Lumitech Solutions Ltd , a specialist retailer for household electrics. You will find
SCENARIO
The following information is taken from the financial statements of Lumitech Solutions Ltd a specialist retailer for household electrics. You will find extracts from their accounts for the years ended December and December and supporting information.
Use this information to answer questions and
tabletablesAs at DecembertablesAs at DecembertableProperty plant, and equipment atcostInventoryTrade receivables,Trade payables,DebenturesRetained earnings,
Lumitech Solutions Ltd generated a net profit of for the year ended December
Lumitech Solutions Ltd sold equipment with a historical cost of and accumulated depreciation of collecting in sales proceeds.
Q
When preparing the cash flow statement, select which adjustment is required to net profit, using the indirect method, to eliminate the noncash effect of the equipment disposaselect one
a
b
c
d
e
f
g
h
PTO
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