Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have been asked to prepare a statement of cash flows for Kagiso Limited for the year ended 31 March 2015. The financial statements of
You have been asked to prepare a statement of cash flows for Kagiso Limited for the year ended 31 March 2015. The financial statements of Kagiso Limited are set out below; Further information - A dividend of P3,780,000 was paid during the year. - A non-current asset costing P2,178,000 with accumulated depreciation of P1,038,000 was disposed during the year. The total depreciation charge for the year was P3,030,000. - All revenue sales and purchases were on credit. Other expenses were paid for in cash. REQUIRED a) Prepare the reconciliation of profit from operations to het cash from operating activities for Kagiso Limited for the year ended 31 March 2015. (10 marks) b) Prepare the statement of cash flows for Kagiso Limited for the year ended 31 March 2015, in accordance with the requirements of IAS 7 . (15 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started