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MUSCAT GASES COMPANY SAOG SATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019 2019 RO 2018 RO Note Cash flows from operating activities Profit for the year before taxation Adjustments for: Interest income Dividend income Gain on disposal of property, plant and equipment Depreciation on property, plant and equipment Depreciation on right-of-use assets 429,811 310,248 (77,625) (48,773) (1,241) (15,237) 227,929 213,730 5 28,659 (9,519) 3,000 Share of loss from associate 144,422 Allowance for slow-moving inventories Allowance for expected credit loss (net) Accrual of employees' end of service benefits Finance charges 3,000 12,055 15,085 (7,147) 15 9,142 23 59,825 33,107 Cash flows from operations before working capital changes 649,876 680,595 (18,743) (750,425) 589,495 (7,546) (262,026) Increase in inventories Increase in trade and other receivables Increase in trade and other payables 261,723 470,203 672,746 Cash generated from operations Income tax paid Employees' end of service benefits paid 17 (87,941) (6,111) (289,692) 15 (82,499) Net cash from operating activities 376,151 300,555 Cash flows from investing activities Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment (837,713) (69,316) 18,037 48,773 Interest received 77,625 Dividend received 1,241 Net cash used in investing activities (760,088) (1,265) Cash flows from financing activities Term loans (net) Finance charges on lease liabilites Lease liabilies (net) Dividends paid Finance charges paid 800,714 17,180 (31,960) (38,114) (2,159,009) (33,107) (59,825) Net cash from/(used in) financing activities 726,109 (2,230,230) Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the year 342,172 (1,930,940) 4,127,706 2,196,766 Cash and cash equivalents at the end of the year 2,538,938 2,196,766 The notes on pages 10 to 43 form part of these financial statements. Auditor's report: pages 1 - 5 Page: 9

MUSCAT GASES COMPANY SAOG SATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019 2019 RO 2018 RO Note Cash flows from operating activities Profit for the year before taxation Adjustments for: Interest income Dividend income Gain on disposal of property, plant and equipment Depreciation on property, plant and equipment Depreciation on right-of-use assets 429,811 310,248 (77,625) (48,773) (1,241) (15,237) 227,929 213,730 5 28,659 (9,519) 3,000 Share of loss from associate 144,422 Allowance for slow-moving inventories Allowance for expected credit loss (net) Accrual of employees' end of service benefits Finance charges 3,000 12,055 15,085 (7,147) 15 9,142 23 59,825 33,107 Cash flows from operations before working capital changes 649,876 680,595 (18,743) (750,425) 589,495 (7,546) (262,026) Increase in inventories Increase in trade and other receivables Increase in trade and other payables 261,723 470,203 672,746 Cash generated from operations Income tax paid Employees' end of service benefits paid 17 (87,941) (6,111) (289,692) 15 (82,499) Net cash from operating activities 376,151 300,555 Cash flows from investing activities Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment (837,713) (69,316) 18,037 48,773 Interest received 77,625 Dividend received 1,241 Net cash used in investing activities (760,088) (1,265) Cash flows from financing activities Term loans (net) Finance charges on lease liabilites Lease liabilies (net) Dividends paid Finance charges paid 800,714 17,180 (31,960) (38,114) (2,159,009) (33,107) (59,825) Net cash from/(used in) financing activities 726,109 (2,230,230) Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the year 342,172 (1,930,940) 4,127,706 2,196,766 Cash and cash equivalents at the end of the year 2,538,938 2,196,766 The notes on pages 10 to 43 form part of these financial statements. Auditor's report: pages 1 - 5 Page: 9

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter23A: Statement Of Cash Flows: The Direct Method
Section: Chapter Questions
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11. Show the comparison of cash flow statements for the last 2 years ?
Transcribed Image Text:11. Show the comparison of cash flow statements for the last 2 years ?
MUSCAT GASES COMPANY SAOG SATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019 2019 RO 2018 RO Note Cash flows from operating activities Profit for the year before taxation Adjustments for: Interest income 429,811 310,248 (77,625) (48,773) (1,241) (15,237) Dividend income Gain on disposal of property, plant and equipment Depreciation on property, plant and equipment Depreciation on right-of-use assets 213,730 28,659 4 227,929 5 Share of loss from associate 6. (9,519) 3,000 (7,147) 144,422 3,000 Allowance for slow-moving inventories Allowance for expected credit loss (net) Accrual of employees' end of service benefits Finance charges 7 12,055 15 9,142 15,085 23 59,825 33,107 Cash flows from operations before working capital changes 649,876 680,595 Increase in inventories (7,546) (262,026) 261,723 (18,743) Increase in trade and other receivables (750,425) Increase in trade and other payables 589,495 Cash generated from operations Income tax paid 470,203 672,746 17 (87,941) (289,692) Employees' end of service benefits paid 15 (6,111) (82,499) Net cash from operating activities 376,151 ---- - 300,555 Cash flows from investing activities Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Interest received (69,316) 18,037 4 (837,713) 77,625 48,773 Dividend received 1,241 Net cash used in investing activities (760,088) (1,265) Cash flows from financing activities Term loans (net) (38,114) 800,714 17,180 (31,960) Finance charges on lease liabilites Lease liabilies (net) Dividends paid Finance charges paid (2,159,009) (33,107) (59,825) Net cash from/(used in) financing activities 726,109 (2,230,230) Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the year 342,172 2,196,766 (1,930,940) 4,127,706 Cash and cash equivalents at the end of the year 2,538,938 2,196,766 ===-= The notes on pages 10 to 43 form part of these financial statements. Auditor's report: pages 1 - 5 Page: 9
Transcribed Image Text:MUSCAT GASES COMPANY SAOG SATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019 2019 RO 2018 RO Note Cash flows from operating activities Profit for the year before taxation Adjustments for: Interest income 429,811 310,248 (77,625) (48,773) (1,241) (15,237) Dividend income Gain on disposal of property, plant and equipment Depreciation on property, plant and equipment Depreciation on right-of-use assets 213,730 28,659 4 227,929 5 Share of loss from associate 6. (9,519) 3,000 (7,147) 144,422 3,000 Allowance for slow-moving inventories Allowance for expected credit loss (net) Accrual of employees' end of service benefits Finance charges 7 12,055 15 9,142 15,085 23 59,825 33,107 Cash flows from operations before working capital changes 649,876 680,595 Increase in inventories (7,546) (262,026) 261,723 (18,743) Increase in trade and other receivables (750,425) Increase in trade and other payables 589,495 Cash generated from operations Income tax paid 470,203 672,746 17 (87,941) (289,692) Employees' end of service benefits paid 15 (6,111) (82,499) Net cash from operating activities 376,151 ---- - 300,555 Cash flows from investing activities Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Interest received (69,316) 18,037 4 (837,713) 77,625 48,773 Dividend received 1,241 Net cash used in investing activities (760,088) (1,265) Cash flows from financing activities Term loans (net) (38,114) 800,714 17,180 (31,960) Finance charges on lease liabilites Lease liabilies (net) Dividends paid Finance charges paid (2,159,009) (33,107) (59,825) Net cash from/(used in) financing activities 726,109 (2,230,230) Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the year 342,172 2,196,766 (1,930,940) 4,127,706 Cash and cash equivalents at the end of the year 2,538,938 2,196,766 ===-= The notes on pages 10 to 43 form part of these financial statements. Auditor's report: pages 1 - 5 Page: 9
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