Scribd
Upload
138 views1 page

Assignment On Statement of Cashflow

The document provides the statement of comprehensive income and financial position for Green Limited for the year ended 31 December 2018. [1] The statement of comprehensive income shows that Green Limited had sales of GH₵86,000 and gross profit of GH₵45,500 after accounting for costs of goods sold and operating expenses, resulting in a profit before tax of GH₵17,500. [2] The statement of financial position outlines that as of 31 December 2018, Green Limited had total assets of GH₵130,000 including non-current assets of GH₵38,000 and current assets of GH₵92,000, financed by equity and liabilities.

Uploaded by

Right Karl-Maccoy Hattoh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
138 views1 page

Assignment On Statement of Cashflow

The document provides the statement of comprehensive income and financial position for Green Limited for the year ended 31 December 2018. [1] The statement of comprehensive income shows that Green Limited had sales of GH₵86,000 and gross profit of GH₵45,500 after accounting for costs of goods sold and operating expenses, resulting in a profit before tax of GH₵17,500. [2] The statement of financial position outlines that as of 31 December 2018, Green Limited had total assets of GH₵130,000 including non-current assets of GH₵38,000 and current assets of GH₵92,000, financed by equity and liabilities.

Uploaded by

Right Karl-Maccoy Hattoh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

The following are the statements of comprehensive income and financial positions of

Green Limited:
Green Limited
Statement of Comprehensive Income for the Year Ended 31st December 2018
GH₵ GH₵
Sales 86,000
Less: Cost of goods sold
Opening stock 16,500
Purchases 48,000
64,500
Less closing stock (24,000) (40,500)
Gross profit 45,500
Less operating expenses
Administrative expenses (9,000)
Depreciation (4,000)
Selling & distribution expenses (10,000) (23,000)
Profit before interest and tax 22,500
Interest (5,000)
Profit before tax 17,500
Corporate tax 6,000
Profit after interest & tax 11,500

Green Limited
Statement of Financial Position as at 31st December 2018
31/1/2018 31/12/017
Non-current assets
Plant & machinery 20,000 15,000
Motor vehicles 8,000 8,000
Equipment 10,000 12,000
38,000 35,000
Current assets
Inventory 24,000 16,500
Receivables 20,000 23,000
Cash & bank 48,000 92,000 34,000 73,500
Total assets 130,000 108,500
Financed by:
Stated capital 55,000 40,000
Income surplus 2,000 57,000 5,000 45,000
Non-current liabilities
5% Debenture 46,000 35,200
Current liabilities
Creditors 27,000 28,300
Total equity and liabilities 130,000 108,500

Required:
(a) Prepare the Statement of Cash-flow for Simons Limited for the year ended 31 st
December, 2018.

You might also like