Exam (elaborations)
MANCOSA FIN REP & ANALYSIS UNIT 4 CASH FLOW STATEMENT ACTIVITY
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FINANCIAL REPORTING AND ANALYSISUNIT 4 ACTIVITY: CASH FLOW STATEMENT
ACC&FINMAN01/12
REQUIRED
Prepare the Cash Flow Statement of Cosby Limited for the year ended 31 December 2023.
INFORMATION
COSBY LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023
R
Sales 1 100 000
Cost of sales (650 000)
Gross profit 450 000
Selling and administrative expenses (210 000)
Depreciation (75 000)
Operating profit 165 000
Interest expense (45 000)
Profit before tax 120 000
Company tax (40 000)
Profit after tax 80 000
EXTRACT OF STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER
2023
R
Balance on 01 January 2023 250 000
Profit after tax 80 000
Dividends paid and recommended in 2023 (30 000)
Balance on 31 December 2023 300 000
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