Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What are the adjustments applied to reach the operating profit before working capital change? please make sure the answer is correct 100% Kuwait Oil Company

What are the adjustments applied to reach the operating profit before working capital change?

image text in transcribed

image text in transcribed

please make sure the answer is correct 100%

Kuwait Oil Company K.S.C. State of Kuwait Statement of cash flows for the year ended 31 March 2019 Note 2019 KD'000 2018 KD'000 560,268 407,484 17 3,786 5&6 9. 12 8,530 1,012 352,244 1,047,815 124,007 1,941,092 Cash flows from operating activities Net profit Adjustments for: Abortive drilling expenditure Provision for obsolete and slow moving inventories Depreciation, amortization and write off Contribution to the shareholder Provision for post employment benefits Changes in: consumable inventories - advances and other receivables receivable from the Parent Company other movements in the Parent Company balances - accounts with group companies accounts payable and other liabilities Cash used in operations Post employment benefits paid Net used in operating activities Cash flows from investing activities Acquisition of property, plant and equipment Abortive drilling Changes in construction inventories Net cash used in investing activities 9 383,598 1,440,688 252,653 2,640,993 (14,620) 20,911 (3,947,451) 2,188 14,006 311,040 (972,933) (83,672) (1,056,605) 5,993 (38,393) (3,142,706) (879) (24,795) 22.111 (1,237,577) (24,356) (1,261,933) 12 5&6 17 (1,857,106) (3,786) (15,681) (1.876,573) (2,124,295) (8,530) 41,383 (2,091,442) Cash flows from investing activities Acquisition of property, plant and equipment Abortive drilling Changes in construction inventories Net cash used in investing activities 5&6 17 (1,857,106) (3,786) (15.681) (1,876,573) (2,124,295) (8,530) 41,383 (2,091,442) Cash flows from financing activities Funding from the Parent Company Net cash generated from financing activities 9 2.930,765 2.930,765 3,350,227 3,350,227 Net change in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year (2,413) 7,565 5,152 (3,148) 10,713 7,565 10 The accompanying notes form an integral part of these financial statements

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

Financial Accounting Tools For Business Decision Making WileyPLUS NextGen Card Single Semester

Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso

10th Edition

1119791022, 978-1119791027

More Books

Students also viewed these Accounting questions