The statement of comprehensive income and the statement of financial position disclosed relates to Jeffrey Ghana Limited.

Jeffrey Ghana Limited

Statement of Financial Position as at December 31, 2021

2020 GH GH

Non-current assets (cost) 300,000

Less Accumulated depreciation (60,000) 240,000 Investment 120,000 Current assets

Inventory 96,000

Receivables 150,000

Bank 164,000

410,000

Total assets 770,000 Financed by:

Stared capital 300,000

Income surplus 146,000

446,000

Non-current liability

10% Debenture 150,000

2021 GH

335,000 70,000

373,000

778,000

486,000

100,000

192,000

778,000 Statement of Comprehensive Income for the year ended December 31, 2021

Current liabilities

Payables 137,500 Taxation 36,500

GH 380,000 (45,000)

100,000 127,000 146,000

320,000

166,000

152,000 40,000

174,000

Total equity and liabilities 770,000

Ferdinand Ghana Limited

Sales

Opening Inventory Purchases

Closing inventory Gross profit Operating expenses Admin expenses Distributive expenses Depreciation NPIT/EBIT

GH

645,000 6,150,250 6,795,250 (1,650,000)

(476,805) (343,033) (10,000)

GH 6,112,088

5,145,250 966,838

(829,838) 137,000

Interest (10,000) PBT 127,000 Tax (40,000) PAT 87,000 Additional information

A non-current assets costing GH60,000 with a written down value of GH35,000 had sold for GH41,000.

Investment costing GH50,000 was sold for GH45,000.

Required:

Prepare the Statement of Cash-flow for Jeffrey Limited for the year ended December 31, 2021

(20 marks)