Question 1, The following information is relevant for the year ended 31 December, 2022 for Grace Ltd 2022 GH¢'000 2021 GH¢'000 Cash 21,000 10,000 Account receivables 30,000 20,000 Inventories 26,000 30,000 PPE 70,000 50,000 Accumulated depreciation (10.000) (5.000) 137.000 105.000 Account payable 9,000 15,000 Accrued liability 2,000 Ordinary Capital 90,000 60,000 Retained earnings 36,000 30,000 137.000 105,000 Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022 GH¢'000 Sales 140,000 Cost of sales (100,000) 40,000 Operating expenses other than depreciation Depreciation 25,000 5.000 (30,000) Net profit 10.000 Additional information: 1. P&M bought for cash in 2022 GH¢20m 2. Share issued for cash GH¢30m 3. Cash dividend paid GH¢4m Prepare a cash flow statement for the year ended 2022.
Question 1, The following information is relevant for the year ended 31 December, 2022 for Grace Ltd 2022 GH¢'000 2021 GH¢'000 Cash 21,000 10,000 Account receivables 30,000 20,000 Inventories 26,000 30,000 PPE 70,000 50,000 Accumulated depreciation (10.000) (5.000) 137.000 105.000 Account payable 9,000 15,000 Accrued liability 2,000 Ordinary Capital 90,000 60,000 Retained earnings 36,000 30,000 137.000 105,000 Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022 GH¢'000 Sales 140,000 Cost of sales (100,000) 40,000 Operating expenses other than depreciation Depreciation 25,000 5.000 (30,000) Net profit 10.000 Additional information: 1. P&M bought for cash in 2022 GH¢20m 2. Share issued for cash GH¢30m 3. Cash dividend paid GH¢4m Prepare a cash flow statement for the year ended 2022.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
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