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Category > Management Posted 04 Feb 2018 My Price 9.00

long-term tangible assets

 

 

4.       You are given below successive statements of financial position for a company (as at 31 December 20X6 and 20X7) and are asked to prepare a statement of cash flows for 20X7.

 

 

 

 

 

20X6

€’000

 

 

20X7

€’000

Property at valuation

2 350

 

3 850

Plant and equipment

Acc. depreciation

980

  –423

 

1 560

   –572

 

2907

 

4838

Inventories

841

 

923

Receivables

1 213

 

1 297

Cash

106

 

73

Total assets

5 067

 

7 131

Share capital

430

 

460

Share premium

802

 

892

Revaluation  reserve

435

 

935

Retained profit

    551

 

     771

 

2218

 

3058

Trade payables

1 432

 

1 675

Taxes payable

217

 

198

Long-term creditors

 1 200

 

  2 200

Total equity and liabilities

5 067

 

7 131

 

 

 

You are advised that no long-term tangible assets were disposed of during 20X7 and that taxation (€217 000) and dividends (€105 000) which related to 20X6 were paid out during  20X7.

 

(Comment: you should note that this case includes long-term assets held at valuation rather than historical cost. A valuation change does not involve any cash flows.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The annual report

 

 

 

 

 

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Feb 2018 10:02 PM My Price 9.00

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