The statement of comprehensive income and the statement of financial position disclosed relates to Jeffrey Ghana Limited
Posted: Sat May 07, 2022 7:51 pm
The statement of comprehensive income and the statement of financial position disclosed relates to Jeffrey Ghana Limited. Jeffrey Ghana LimitedStatement of Financial Position as at December 31, 2021 2020 GH₵ GH₵Non-current assets (cost) 300,000Less Accumulated depreciation (60,000) 240,000 Investment 120,000 Current assetsInventory 96,000Receivables 150,000Bank 164,000410,000Total assets 770,000 Financed by:Stared capital 300,000Income surplus 146,000446,000Non-current liability10% Debenture 150,0002021 GH₵335,000 70,000373,000778,000486,000100,000192,000778,000 Statement of Comprehensive Income for the year ended December 31, 2021 Current liabilitiesPayables 137,500 Taxation 36,500GH₵ 380,000 (45,000)100,000 127,000 146,000320,000166,000152,000 40,000 174,000 Total equity and liabilities 770,000 Ferdinand Ghana Limited SalesOpening Inventory PurchasesClosing inventory Gross profit Operating expenses Admin expenses Distributive expenses Depreciation NPIT/EBITGH₵645,000 6,150,250 6,795,250 (1,650,000)(476,805) (343,033) (10,000)GH₵ 6,112,0885,145,250 966,838(829,838) 137,000 Interest (10,000) PBT 127,000 Tax (40,000) PAT 87,000 Additional information• A non-current assets costing GH₵60,000 with a written down value of GH₵35,000 had sold for GH₵41,000.• Investment costing GH₵50,000 was sold for GH₵45,000.Required:Prepare the Statement of Cash-flow for Jeffrey Limited for the year ended December 31, 2021(20 marks)
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 GH₵60,000 with a written down value of GH₵35,000 had sold for GH₵41,000.
• Investment costing GH₵50,000 was sold for GH₵45,000.
Required:
Prepare the Statement of Cash-flow for Jeffrey Limited for the year ended December 31, 2021
(20 marks)
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 GH₵60,000 with a written down value of GH₵35,000 had sold for GH₵41,000.
• Investment costing GH₵50,000 was sold for GH₵45,000.
Required:
Prepare the Statement of Cash-flow for Jeffrey Limited for the year ended December 31, 2021
(20 marks)