Chelsea Limited Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: Depreciation on buildings 2021 (R) 2020 (R) INFORMATION 96,000 Depreciation on plant and machinery $ 160,000 $ 256,000 PEPSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Sales 3312 000 2 800 000 Inventories 384 000 400 000 Cash Flow from Operations $1,080,000 $ (64,000) $ (192,000) Less: Interest Paid Accounts receivable 408 000 256 000 Less: Income Tax Paid Cost of sales (1 616 000) (1 560 000) Gross profit Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 1 696 000 1240 000 Ordinary share capital Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments Seling and administrative expenses (672 000) (568 000) 1600 000 1600 000 $ (352,000) $ (304,000) $ (240,000) Operating profit Retained earnings s 1 024 000 672 000 896 000 480 000 Long-term loan 640 000 320 000 Interest expense (64 000) (32 000) Net Cash Flow from Investing Activities $ (896,000) Accounts payable 448 000 384 000 Profit before tax 960 000 640 000 Cash Flow from Financing Activities: $ (240,000) $ 320,000 Income tax payable 128 000 64 000 Dividend Paid Tax (256 000 (172 000) Issuance of Long term Loans Profit after tax 704 000 468 000 Dividends payable 208 000 160 000 Net Cash Flow from Financing Activities $ 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning $ 64,000 Cash Balance, Ending 72,000
Chelsea Limited Statement of Cash Flow For the Year Ended December 31, 2021 Cash Flow from Operating Activities: Profit before Interest and Tax $1,024,000 Use the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 LIST OF BALANCES FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: December 2021. Adjustments for non cash Items: Depreciation on buildings 2021 (R) 2020 (R) INFORMATION 96,000 Depreciation on plant and machinery $ 160,000 $ 256,000 PEPSICO LIMITED Land and buildings 1 760 000 1504 000 Changes in Working Capital: Plant and machinery 992 000 848 000 $ 16,000 $ (152,000) $ (64,000) $ (200,000) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Decrease in Inventories Increase in Accounts Receivable 2021 (R) 2020 (R) Investments 240 000 Decrease in Accounts Payable Sales 3312 000 2 800 000 Inventories 384 000 400 000 Cash Flow from Operations $1,080,000 $ (64,000) $ (192,000) Less: Interest Paid Accounts receivable 408 000 256 000 Less: Income Tax Paid Cost of sales (1 616 000) (1 560 000) Gross profit Cash and cash equivalents Net Cash Flow from Operating Activities $ 824,000 72 000 64 000 1 696 000 1240 000 Ordinary share capital Cash Flow from Investing Activities: Purchase of Land and Building Purchase of Plant and Machinery Purchase of Investments Seling and administrative expenses (672 000) (568 000) 1600 000 1600 000 $ (352,000) $ (304,000) $ (240,000) Operating profit Retained earnings s 1 024 000 672 000 896 000 480 000 Long-term loan 640 000 320 000 Interest expense (64 000) (32 000) Net Cash Flow from Investing Activities $ (896,000) Accounts payable 448 000 384 000 Profit before tax 960 000 640 000 Cash Flow from Financing Activities: $ (240,000) $ 320,000 Income tax payable 128 000 64 000 Dividend Paid Tax (256 000 (172 000) Issuance of Long term Loans Profit after tax 704 000 468 000 Dividends payable 208 000 160 000 Net Cash Flow from Financing Activities $ 80,000 Additional information Net Change in Cash 8,000 Cash Balance, Beginning $ 64,000 Cash Balance, Ending 72,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 25CE
Related questions
Question
Comment on the credit payment period ratio of 93.96 and an acid test ratio of 66.67%.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning