Cash Flow Statement of Meetu Trading Assignment | Top Universities

FINANCIAL STATEMENT (15) QUESTION 4 REQUIRED Use the information supplied below to prepare the Cash Flow Statement of Meetu Trading for the year ended 28 February 2019. INFORMATION A. Extracts from the Statement of Comprehensive Income for the year ended 28 February 2019 Depreciation 20000 350 000 Profit before interest and tax 36 000 Dividends on Investments Interest on loan 15 000 100 000 Income tax B Extracts from the Statement of Financial Position For the year ended 28 February 2019 2019 2018 Ordinary Share Capital 800 000 590 000 10000 Retained Income 110 000

Property, Plant and Equipment 460000 390 000 330 000 220 000 Investments 40000 120 000 Loan: RB 232 000 240 000 Inventory Trade Debtors Prepaid Expenses Bank [DRT 57 000 74 000 3 000 25 000 85 000 45 000 Trade Creditors 5 000 Deferred Income Bank overdraft 50 000 15 000 10 000 SARS Income Tax 40000 50 000 Shareholders for Dividends C. Additional information. Some fixed assets were purchased during the year. Interim Dividends paid during the year amounted to R60 000. Additional Ordinary shares were issued during the year MANCOSA: HIGF Extracts from the Statement of Financial Position For the year ended 28 February 2019 B- 1. The tenant has paid her rent up to 31 March 2019 The rent had been increased by R800 with effect from 01 January 2019. ADJUSTMENTS AND ADDITIONAL INFORMATION Ordinary Share Capital Retained Income Property, plant and Equipment Investments 2019 800000 110 000 2018 590 000 2. Write aff a further had debt of R500. 10 000 460 000 390 000 3. Provision for bad debts must be decreased by R700, 330 000 ansurance includes an amount of R2 400 covering the period 01 November 2018 to 31 October 2019. 220 000 Loan: RB 40 000 Inventory Trade Debtors Prepaid Expenses Bank [DRT Trade Creditors Deferred Income 120 000 240 000 4. 232 000 74 000 57 000 3000 5. Rates assessment statement received indicates the annual rate amount of R37 000 25 000 45 000 Stocktaking on 28 February 2019 revealed the following inventories on hand: 6. 85 000 5 000 Trading inventory, R137 000 Consumables, R2 600 Bank overdraft 50 000 SARS: Income Tax Shareholders for Dividends 10 000 15 000 A dividend of R4 000 on the investment in A Z Corp. is outstanding 50 000 7. 40 000 Depreciation is calculated as follows : 8. C Additional information. On equipment at 15 % p.a. on cost me fixed assets were pu hased during the year. On vehicles at 25 % p.a, on the diminishing balance method Interim Dividends paid during the year amounted to R60 000. Additional Ordinary shares were issued during the year 9. Provide for autstanding interest on loan.1 10. The company had issued 30 000 12 % debentures at R5 each. Provide for outstanding interest pavahle on Project Guidelines Your assignment should include a Table of Contents page and a bibliography. Text: Arial or Times New Roman (12); Spacing 1% lines . All text must be justified at each these debentures. 11. Company Income Tax is calculated at 28% margin. .Where applicable, use formats and formulas from your study guide. , Start each question on a new page. Number each solution according to the numbering in the assignment handbook. (15) FINANCIAL STATEMENT QUESTION 4 You may make use of a spreadsheet (eg. Microsoft Excel) to assist you only with the construction of tables and formats Solutions generated by software packages will not be marked. No marks will be awarded if only the final answers are given for calculations. All relevant workings/steps must be shown. REQUIRED Use the information supplied below to prepare the Cash Flow Statement of Meetu Trading for the year ended 28 February 2019. INFORMATION A. Extracts from the Statement of Comprehensive income for the year ended 28 February 2019 Depreciation 20 000 Profit before interest and tax 350 000 Dividends on Investments 36 000 Interest on loan 15 000 Income tax 100 000 41. Get Accounting homework help today