Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Extract from statement of financial position of Company X is presented below: Note 31.dec16 31.dec15 Plant and equipment 20 000 5 000 Rights of

image text in transcribed
image text in transcribed
4. Extract from statement of financial position of Company X is presented below: Note 31.dec16 31.dec15 Plant and equipment 20 000 5 000 Rights of usage 18 000 3 000 Loans provided 15 000 Retained earnings 30 000 10 000 Additional information: 1. Depreciation of plant and equipment for 2016 year was 4,000 2. One unit of equipment was sold for 1,000 generating loss of 2,000 3. Depreciation of rights of usage for 2016 was 3,000 4. Net profit for 2016 was 35,000 and Company X has no dividends payable at years end. Requirement Using only information provided prepare investing and financing section of cash flow statement for the year ended 31 dec 2016 (show you workings clearly)

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_2

Step: 3

blur-text-image_3

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

Survey Of Accounting

Authors: Carl S. Warren, Amanda Farmer

9th Edition

0357132599, 978-0357132593

More Books

Students also viewed these Accounting questions

Question

Explain how humanistic therapists use the technique of reflection.

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago

Question

2. Develop a good and lasting relationship

Answered: 1 week ago