Siukit Make FR-Topic 07-Cash Flows_TA(2020_21B)_moodle [1] - Word 14. 25 , 9tt OF. Topic 7 Tutorial Assignment - Cash Flows Topic 7 Tutorial Assignment - Cash Flows Question 4) Additional Information The balance sheets of Funnies Ltd for the years eaded 30 June 20x2 and 20x3 are as follows: 4 (0) The income statement for the year ended 30 June 20X3 is as follows: Funnies Ltd. Statement of financial position as at 30 June 20X3 S- 71,280 20X3 20X2 $ $ $ Property, plant and equipment Premises Equipment Cars Net sales Less expenses Depreciation Profit on disposal of equipment Loss on disposal of cars Debeature interest Operating profits before tax 37,000- 45,800 18.930 38.000 17,600 14.080 7,000 (430) 740 3,000 60,970- 101,730 69,6804 Long term investment Shares Less: taxation Profit after tax 25,000 17.000- 10,000 50.970- (ii) Current Assets Stock Debtors 6 month fixed deposit Cash & bank balances 49,670- 71.960 4.800 700 127,130 17.500- 14,410 3.600 1.800 37,310 110 Debenture interest incurred for the year has been paid Proposed dividad declared on 1 July 20X3 is $20,000.- The value of the P.P.E. at disposal on 1 July 20x2 was: 32.050 Equipment Cars $5,200 $2.010 Less: Current liabilities Tiade creditors Bank overdraft Taxation 10,000 42.050 20,950 28.200 14.000 63.150 Net current assets (liabilities) 85.080) 211.SLO (25,840) 60.840 The deprecintion of $7,00%) was represented by: Premises $1.IXO Equipment $3,000 Cars $3,000 Shareholders' cquity Ordinary shares Retained Earnings / (Accum. losses) (vi) The company revalued all P.P.E. on 30 June 20X2 and recognized a revaluation deficit. 50,000- 41,810 91.810 30,000 (9.160) 20.840 Required: Long term liabilities 5% debeatures Long-term loan 60,000 60.000 211.8.10 20.000- 20.000 60.840- Using indirect method, prepare a statement of cash flows of Funnies Ltd for the year ended 30 June 20x3 and show an extract of notes to financial statements as required under HIKAS 7.- 11.15 W 2364 EX(K O * OE 20:10 - F 7/3/2021 15 Siukit Mak FR-Topic 07- Cash Flows_TA(2020_21B)_moodle [2] - Word , I TR O BUS 20283 Topic 7 Tutorial Assignment - Cash Flowse The following nates are required to bath versions of the statement of cash flows: Notex to financial statements Cash and cash equivalents consist of cash on band and balances with banks, and investments in money market instruments. Cash and cash equivalents included in the cash flow statement comprise the following balance sheet amounts Cash on hand and balances with banks Short term investments Cash and cash equivalents as previously reported Effect of exchange rate changes Cash and cash equivalents $'000 XXX XXX XXX 20X6 $'000- XXX XXX XXX (XXX) XXX (b) The company has an unchawu borrowing facilities of $XXX of which coulysXXX may be used for future expansion ()Cash and cash equivalents at the end of the period include deposits with banks of SXXX held by a subsidiary that are not freely remissible to the holding company because of currency exchange restrictions 1,5 2364 ] O O U 20:11 7/3/2021 F 15 Siukit Make FR-Topic 07-Cash Flows_TA(2020_21B)_moodle [1] - Word 14. 25 , 9tt OF. Topic 7 Tutorial Assignment - Cash Flows Topic 7 Tutorial Assignment - Cash Flows Question 4) Additional Information The balance sheets of Funnies Ltd for the years eaded 30 June 20x2 and 20x3 are as follows: 4 (0) The income statement for the year ended 30 June 20X3 is as follows: Funnies Ltd. Statement of financial position as at 30 June 20X3 S- 71,280 20X3 20X2 $ $ $ Property, plant and equipment Premises Equipment Cars Net sales Less expenses Depreciation Profit on disposal of equipment Loss on disposal of cars Debeature interest Operating profits before tax 37,000- 45,800 18.930 38.000 17,600 14.080 7,000 (430) 740 3,000 60,970- 101,730 69,6804 Long term investment Shares Less: taxation Profit after tax 25,000 17.000- 10,000 50.970- (ii) Current Assets Stock Debtors 6 month fixed deposit Cash & bank balances 49,670- 71.960 4.800 700 127,130 17.500- 14,410 3.600 1.800 37,310 110 Debenture interest incurred for the year has been paid Proposed dividad declared on 1 July 20X3 is $20,000.- The value of the P.P.E. at disposal on 1 July 20x2 was: 32.050 Equipment Cars $5,200 $2.010 Less: Current liabilities Tiade creditors Bank overdraft Taxation 10,000 42.050 20,950 28.200 14.000 63.150 Net current assets (liabilities) 85.080) 211.SLO (25,840) 60.840 The deprecintion of $7,00%) was represented by: Premises $1.IXO Equipment $3,000 Cars $3,000 Shareholders' cquity Ordinary shares Retained Earnings / (Accum. losses) (vi) The company revalued all P.P.E. on 30 June 20X2 and recognized a revaluation deficit. 50,000- 41,810 91.810 30,000 (9.160) 20.840 Required: Long term liabilities 5% debeatures Long-term loan 60,000 60.000 211.8.10 20.000- 20.000 60.840- Using indirect method, prepare a statement of cash flows of Funnies Ltd for the year ended 30 June 20x3 and show an extract of notes to financial statements as required under HIKAS 7.- 11.15 W 2364 EX(K O * OE 20:10 - F 7/3/2021 15 Siukit Mak FR-Topic 07- Cash Flows_TA(2020_21B)_moodle [2] - Word , I TR O BUS 20283 Topic 7 Tutorial Assignment - Cash Flowse The following nates are required to bath versions of the statement of cash flows: Notex to financial statements Cash and cash equivalents consist of cash on band and balances with banks, and investments in money market instruments. Cash and cash equivalents included in the cash flow statement comprise the following balance sheet amounts Cash on hand and balances with banks Short term investments Cash and cash equivalents as previously reported Effect of exchange rate changes Cash and cash equivalents $'000 XXX XXX XXX 20X6 $'000- XXX XXX XXX (XXX) XXX (b) The company has an unchawu borrowing facilities of $XXX of which coulysXXX may be used for future expansion ()Cash and cash equivalents at the end of the period include deposits with banks of SXXX held by a subsidiary that are not freely remissible to the holding company because of currency exchange restrictions 1,5 2364 ] O O U 20:11 7/3/2021 F 15