Wilton Felder Ltd is finalising its financial statements for the year ended 31 October 2024.You are presented with the following information:Income statement for the year ended 31 October 2024£175,900Sales revenueCost of Sales(99,370)Gross profit76,530Operating expensesInterest income(51,280)401,400Finance costsProfit before tax23,890Corporation tax expenses(6,450)Profit for the year17,440Balance sheets as at 31 OctoberNon-current assetsProperty plant & equipmentat costLess AccumulatedDepreciationCurrent AssetsInventoryTrade receivableCash at bank and in handTotal assetsCurrent liabilitiesTrade and other payablesCorporation tax payableNon-current liabilitiesBank LoansNet assetsEquityShare capitalShare premiumRetained earningsTotal equity31/10/24£132,040(32,210)99,83024,13017,5204,22045,870145,70020,0605,27025,33028,32092,05024,41013,80053,84092,05031/10/23£111,580(28,870)82,71027,22011,7402,14041,100123,81017,8604,83022,69023,32077,80021,76011,44044,60077,800 Additional information:(i)There were no amounts outstanding in relation to interest payable or receivableas at either year end date.(ii)(iii)The operating profit figure above is stated after charging depreciation of £10,320.In June 2024, the company sold a piece of machinery for £10,000, realising aprofit on disposal of £5,160.(iv)The share capital of the company comprises ordinary shares only. In August2024, the company made a successful rights issue of shares at a price greaterthan par value.(v)The company paid ordinary dividends amounting to £8,200 during the year ended31 October 2024.Required:Prepare the Cash flow from operating activities section ONLY of the statement of cashflows for Wilton Fielder Ltd using the indirect method. Make sure you show netoperating cash flow

Particulars Calculation Amount( in Pounds) Profits for the year 17440 Add: Corporation Tax…

Answered: Prepare the Cash flow from operating…

Prepare the Cash flow from operating activities section ONLY of the statement of cash flows for Wilton Fielder Ltd using the indirect method. Make sure you show net operating cash flow

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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