Question 1,The following information is relevant for the year ended 31 December, 2022 for Grace Ltd2022GH¢'0002021GH¢'000Cash21,00010,000Account receivables30,00020,000Inventories26,00030,000PPE70,00050,000Accumulated depreciation(10.000)(5.000)137.000105.000Account payable9,00015,000Accrued liability2,000Ordinary Capital90,00060,000Retained earnings36,00030,000137.000105,000Grace Ltd Statement of comprehensive Income for the year ended 31 December, 2022GH¢'000Sales140,000Cost of sales(100,000)40,000Operating expenses other than depreciationDepreciation25,0005.000(30,000)Net profit10.000Additional information:1. P&M bought for cash in 2022 GH¢20m2. Share issued for cash GH¢30m3. Cash dividend paid GH¢4mPrepare a cash flow statement for the year ended 2022.

>Depreciation is a non cash expense that's why it is added by to net net income> Increase in…

Answered: Question 1, The following information…

Cornerstones of Financial Accounting

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Chapter7: Operating Assets

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Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...

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Requlred Informatlon RivMera Townshlp reported the following data for Its governmental activitles for the year ended June 30, 20X9: 2 of 3 Item Amount Cash and cash equivalents $1,000,000 300,000 8,500,000 1,200,000 400,000 4,800,000 Receivables Capital assets Accumulated depreciation Accounts payable 01:56:09 Long-term liabilities Additlonal Information avalable is as follows: All of the long-term debt was used to acquire capital assets. Cash of $475,000 Is restricted for debt service. Based on the preceding Informatlon, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets Invested In capital assets, net of related debt? Multiple Cholce $3.300,000 $2.900,000 $2,825,000 $4.200,000

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