Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following additional information relates to Khabongo Limited whose accounts are presented above: i. Analysis of sales in each of the years revealed that on

The following additional information relates to Khabongo Limited whose accounts are presented above:

i. Analysis of sales in each of the years revealed that on average 80% were made on credit basis while the rest are made on cash basis.

ii. A piece of plant costing Sh.200,000 had been disposed off on 1.10.2021 when its cumulative depreciation was Sh.150,000.

iii. The cost values of property, plant and equipment on various dates were Sh.7,000,000 and Sh.4,573,950 at 30.9.2022 and 30.9.2021 respectively.

v. All purchases over the two years were made on credit.

Use the information to provide the values in (i) to (xx) based on a cash flow statement. Just STRICTLY indicate the figures ONLY without the "Sh." e.g if the answer is Sh.100,000; simply put your answer as 100000. DO NOT USE Commas between numbers and DO NOT have spaces between the numbers. The figure ONLY is sufficient. In case a value is negative, provide the answer in brackets e.g if the net cash flows from operating activities is negative Sh.500,000, provide the answer as (500000)

Required

Adjusted profit before working capital items

Tax paid for the year

Net Cash flows from operating activities

Proceeds from disposal of plant

Cash used acquire plant, property and equipment

Net Cash flows from operating activities

Total cash sourced from financing activities

Total cash used on financing activities

Net cash flows from financing activities

Changes in cash and cash equivalents the year

Net cash flows from investing activities

Interest expense paid

Value of increase in inventories

Value increase in prepaid administration expense

Value of increase in debtors

Value of increase in creditors

value increase in marketing expenses payable

Money used on paying up the 10% debentures for the year

Dividend paid for the year

Cash and cash equivalents carried forward to 1.9.2022

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

The Operational Auditing Handbook Auditing Business And IT Processes

Authors: Andrew Chambers, Graham Rand

2nd Edition

0470744766, 978-0470744765

More Books

Students also viewed these Accounting questions

Question

Describe how language reflects, builds on, and determines context?

Answered: 1 week ago