Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

A Statement of Cash Flows forms an integral portion of a set of Financial Statements to be made by a reporting entity. The given Financial Statements of Smoothflows Ltd. has been given to you. They are in respect of Financial Years ending 31st December 2011 and 2012 correspondingly:

1782_cash flow statement.jpg

1390_cash flow statement_2.jpg

This additional information was given:

a) Throughout the Year 2012, Plant which had cost Rs 100,000 and which had a book value of Rs 20,000 was sold for Rs 15,000;

b) Rs 50,000 of the Debentures were repaid on 31st December 2012;

c) An Interim Dividend of Rs 7,500 was paid throughout the year 2012; and

d) Taxation in the sum of Rs 6,000 has been debited to the Profit and Loss Account.

Profit and loss account for the year ended 31st December 2012:

2168_profit and loss account.jpg

Required:

problem 1: Make a Statement of Cash Flows for the year ended 31st December 2012 by using the Indirect Method, and complying with IAS 7.

problem 2: Describe the main purpose of a Statement of Cash Flows.

problem 3: Describe what you understand by ‘Allocation’ and ‘Apportionment’ of Costs. 

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M96957

Have any Question? 


Related Questions in Financial Accounting

Assignmenttask 1 accounting systemsbrave brands marketing

Assignment Task 1. Accounting systems Brave Brands Marketing is a well-renowned marketing organisation with a strong workforce of dedicated employees. However, the CEO has recently identified that many of his staff membe ...

Assignmentsheetbend amp halyard casejack tar cfo of

Assignment Sheetbend & Halyard Case Jack Tar, CFO of Sheetbend & Halyard, Inc., opened the company's confidential envelope. It contained a draft of a competitive bid for a contract to supply duffel canvas to the US Navy. ...

Comprehensive annual financial report of prince georges

Comprehensive Annual Financial Report of PRINCE GEORGE's COUNTY http://www.mncppc.org/Our_Departments/Central_Administrative_Services/Finance/CAFR/CAFR2015.html Prepare a Power Point presentation... 8-10 slides... COMPRE ...

Accounting problemsquestion 1question 1aon december 31 2015

Accounting Problems Question 1 QUESTION 1A On December 31, 2015, Raleigh Corp. had the following balances (all balances are normal): Accounts Amount Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares autho ...

Financial accounting multiple choice1 preparing a bank

Financial Accounting Multiple Choice 1) Preparing a bank reconciliation enables a company to ________. A) locate any errors, whether made by the bank or by the company B) make adjustments for transactions that have alrea ...

Assignmentin a survey 24 it professionals in chicago were

Assignment In a survey, 24 IT professionals in Chicago were asked how much their annual salary was for the year 2012. The results are shown below: $109,000 $ 65,000 $ 65,000 $ 59,000 $ 180,000 $ 101,325 $ 130,000 $95,000 ...

Assignmentdataspan inc automated its plant at the start of

Assignment DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustme ...

Assignmenti structuring a keep-or-drop product line

Assignment: I. Structuring a Keep-or-Drop Product Line Problem Shown below is a segmented income statement for Orzo Company's three laminated flooring product lines:   Strip Plank Parquet Total Sales revenue $400,000 $20 ...

Accounting discussion questionsdq1review the provisions of

ACCOUNTING DISCUSSION QUESTIONS DQ1 Review the provisions of the Sarbanes-Oxley Act of 2002 to address the accounting scandals in the late 1990s and early 2000s (Enron, WorldCom, etc.). Identify the provisions that you b ...

Assignment performance measurement and variancesi thought

Assignment: Performance Measurement and Variances I thought the Internet would be an ideal way to distribute our products. We've had a lot of success with our direct sales, but now we can reach a much larger audience. Th ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro