Statement of cash flows * No comma is needed for input of answers. (eg. five thousand should be input as 5000)
Posted: Mon May 02, 2022 6:38 am
Statement of cash flows
* No comma is needed for input of
answers. (eg. five thousand should be input as 5000)
,
Below is the financial information for TRIALCompany
Limited for the year ended 31 December
no marks will be awarded if input as
5,000
please input negative figure with a negative sign ,
eg -5000
TRIAL Company Limited
Additional information
Statement of Financial Position
i. Sold plant that cost $245,000 and a book
value at the date of disposal of $65,000 for $54,000.
31 December 2019
ii. Sold equipment that cost $105,000
and a book value at the date of disposal of $35,000 for
$45,000.
2019
2018
iii. Interest on all bonds is paid on
30 June and 31 December each year.
$
$
$
$
$160,000
of the 8% bonds was redeemed on 31 December 2019.
Property, plant and equipment
The
remaining $40,000 of the 8% bonds was converted to ordinary share
capital of $40,000.
Plant
2,500,000
2,190,000
iv. The company issued additional
ordinary share on 1 February 2019.
Less: Acc. Depreciation-plant
-904,000
1,596,000
-852,000
1,338,000
v. An interim dividend of $110,000 was
paid on 30 June 2019 to holders of all the shares in issue at that
date.
vi. In July 2019, the company bought 40,000
treasury shares at cost of $2.5 each share.
Equipment
420,000
210,000
Less: Acc. Depreciation-equipment
-56,000
364,000
-28,000
182,000
TRIAL Company Limited
Current assets
Statement of Cash Flows
Merchandise inventory
360,000
324,000
for the year ended 31 December 2019
Accounts receivable, net
344,000
360,000
Cash flows from operating activities
Cash and cash equivalents
27,000
16,000
Net income
[A]
731,000
700,000
Adjustments to reconcile net income to cash used in
operating activities:
2,691,000
2,220,000
Depreciation expense
Equity
Gain/Loss on disposal of plant
[C]
Share capital, ordinary at $1 par
800,000
600,000
Gain/Loss on disposal of equipment
[D]
Share premium, ordinary
319,000
200,000
Increase/Decrease in merchandise inventory
[E]
Share premium, treasury
-
-
Increase/Decrease in accounts receivable
[F]
Retained earnings
900,000
776,000
Increase/Decrease in accounts payable
[G]
Less: Treasury shares
100,000
-
Increase/Decrease in accrued liabilities
[H]
Total equity
1,919,000
1,576,000
Increase/Decrease in tax payable
Net cash
provided /used by operating activities
[J]
Cash flows from investing activities:
Non-current liabilities
Sales of plant
[K]
8% bonds payable
200,000
400,000
Sales of equipment
[L]
Purchase of plant
[M]
Current liabilities
Purchase of equipment
[N]
Accounts payable
475,000
172,000
Net
cash provided/ used by investing activities
[O]
Accrued liabilities
72,000
52,000
Cash flows from financing activities
Income taxes payable
15,000
10,000
Repayment of bonds
[P]
Other payables
10,000
10,000
Issuance of ordinary shares
[Q]
572,000
244,000
Sales of treasury shares
[R]
Total liabilities
772,000
644,000
Purchase of treasury shares
[S]
Total equity and liabilities
2,691,000
2,220,000
Payment of dividends
[T]
Net cash
provided used by financing activities
* No comma is needed for input of
answers. (eg. five thousand should be input
as 5000)
Net increase in cash
[V]
please input negative figure with a negative sign ,
eg -5000
Cash at the beginning of the year
[W]
Cash at the end of the year
[X]
* No comma is needed for input of
answers. (eg. five thousand should be input as 5000)
,
Below is the financial information for TRIALCompany
Limited for the year ended 31 December
no marks will be awarded if input as
5,000
please input negative figure with a negative sign ,
eg -5000
TRIAL Company Limited
Additional information
Statement of Financial Position
i. Sold plant that cost $245,000 and a book
value at the date of disposal of $65,000 for $54,000.
31 December 2019
ii. Sold equipment that cost $105,000
and a book value at the date of disposal of $35,000 for
$45,000.
2019
2018
iii. Interest on all bonds is paid on
30 June and 31 December each year.
$
$
$
$
$160,000
of the 8% bonds was redeemed on 31 December 2019.
Property, plant and equipment
The
remaining $40,000 of the 8% bonds was converted to ordinary share
capital of $40,000.
Plant
2,500,000
2,190,000
iv. The company issued additional
ordinary share on 1 February 2019.
Less: Acc. Depreciation-plant
-904,000
1,596,000
-852,000
1,338,000
v. An interim dividend of $110,000 was
paid on 30 June 2019 to holders of all the shares in issue at that
date.
vi. In July 2019, the company bought 40,000
treasury shares at cost of $2.5 each share.
Equipment
420,000
210,000
Less: Acc. Depreciation-equipment
-56,000
364,000
-28,000
182,000
TRIAL Company Limited
Current assets
Statement of Cash Flows
Merchandise inventory
360,000
324,000
for the year ended 31 December 2019
Accounts receivable, net
344,000
360,000
Cash flows from operating activities
Cash and cash equivalents
27,000
16,000
Net income
[A]
731,000
700,000
Adjustments to reconcile net income to cash used in
operating activities:
2,691,000
2,220,000
Depreciation expense
Equity
Gain/Loss on disposal of plant
[C]
Share capital, ordinary at $1 par
800,000
600,000
Gain/Loss on disposal of equipment
[D]
Share premium, ordinary
319,000
200,000
Increase/Decrease in merchandise inventory
[E]
Share premium, treasury
-
-
Increase/Decrease in accounts receivable
[F]
Retained earnings
900,000
776,000
Increase/Decrease in accounts payable
[G]
Less: Treasury shares
100,000
-
Increase/Decrease in accrued liabilities
[H]
Total equity
1,919,000
1,576,000
Increase/Decrease in tax payable
Net cash
provided /used by operating activities
[J]
Cash flows from investing activities:
Non-current liabilities
Sales of plant
[K]
8% bonds payable
200,000
400,000
Sales of equipment
[L]
Purchase of plant
[M]
Current liabilities
Purchase of equipment
[N]
Accounts payable
475,000
172,000
Net
cash provided/ used by investing activities
[O]
Accrued liabilities
72,000
52,000
Cash flows from financing activities
Income taxes payable
15,000
10,000
Repayment of bonds
[P]
Other payables
10,000
10,000
Issuance of ordinary shares
[Q]
572,000
244,000
Sales of treasury shares
[R]
Total liabilities
772,000
644,000
Purchase of treasury shares
[S]
Total equity and liabilities
2,691,000
2,220,000
Payment of dividends
[T]
Net cash
provided used by financing activities
* No comma is needed for input of
answers. (eg. five thousand should be input
as 5000)
Net increase in cash
[V]
please input negative figure with a negative sign ,
eg -5000
Cash at the beginning of the year
[W]
Cash at the end of the year
[X]