question archive You are provided with an incomplete statement of cash flows of Treen Limited for the year ended 30 June 2019, together with additional information
You are provided with an incomplete statement of cash flows of Treen Limited for the year ended 30 June 2019, together with additional information
Subject:AccountingPrice: Bought3
You are provided with an incomplete statement of cash flows of Treen Limited for the year ended 30 June 2019, together with additional information. New shares were issued on 1 January 2019. Additional Information:
1. The following figures appeared in the statement of comprehensive income for the year ended 30 June 2019
? Depreciation R250 000
? Income Tax R300 000
? Net Profit After Tax R800 000
2. Dividends declared on ordinary shares:
? Interim R235 000 (Paid on 31 December 2018)
? Final ? (Payable on 15 August 2019).
3. The following information appeared in the statement of financial position:
30 June 2019 (R) 30 June 2018 (R)
Ordinary Share Capital 4 000 000 3 500 000
Retained Income 550 000 600 000
Share capital and reserves 4 550 000 4 100 000
Loan: Treet Bank (10% P.A) 1 000 000
Fixed assets at carrying value 4 500 000 4 000 000
SARS: Income Tax 7 500(dr) 28 000 (cr)
Shareholders for dividends 580 000 250 000
Cash and cash equivalents 600 000 5 000
Bank Overdraft (20% P.A) 50 500 800 000
4. For the purposes of the statement of cash flows, the cash effects of changes in working capital were calculated to be R100 000 (Favourable).
5. The loan from Treet bank was taken out on 1 April 2019. Interest on overdraft for the year was R15 000. All interest payments are up to date.
6. Certain assets were sold at carrying value, R15 000.
7. The dividends payable to shareholders on 30 June 2018 were paid on 15 August 2018.
Required:
Calculate the missing figures in the statement of cash flows labelled (a) - (k).
Round to two decimal places.
Statement of cash flows of Treen limited for the year ended 30 June 2019.
R
Cash flows from operating activities
Cash receipts from customers 1 800 000
Cash paid to suppliers and employees (a)
Cash generated from operations (b)
Interest expense (c)
Dividends paid (d)
Taxation paid (e)
Net cash flows from operating activities ?
Cash flows from investing activities
Non?current assets acquired (f)
Proceeds from sale of non?current assets (g)
Net cash flows from investing activities ?
Cash flows from financing activities
Proceeds from issuance of share capital (h)
Proceeds from long?terms loans raised (i)
Net cash flows from financing activities ?
Net increase in cash and cash equivalents ?
Cash and cash equivalents at the beginning of the period (j)
Cash and cash equivalents at the end of the period (k)
