McD2060 Trim3 2014 Tutorial 7 Cash Flow Questions Student Handout
Autor: Sara17 • October 1, 2018 • 1,304 Words (6 Pages) • 563 Views
...
In Tutorial 7
Additional Question 1
Sanofi Pharmaceuticals Limited Income Statement for the year ended 31 Dec 2013
$
$
Revenues
Sales Revenue
810,400
COGS
369,600
Gross Profit
440,800
Other Operating Income
Rent Revenue
8,000
Gain on sale of Machinery
4,000
12,000
Expenses
Salary expense
155,600
Insurance expense
40,000
Depreciation expense
16,000
Total expense
211,600
Operating profit before tax
241,200
Taxation expense
69,960
Net profit after tax
171,240
Sanofi Pharmaceuticals Limited Balance Sheets as at 31 Dec
2013
2012
Current assets
Cash
41,600
21,200
Accounts receivable
122,000
110,400
Prepaid Insurance
30,000
20,000
Inventories
334,400
348,800
Non-current assets
Land
276,000
240,000
Machinery
302,680
277,600
Less Acc Depn Machinery
88,680
80,000
Total assets
1,018,000
938,000
Current liabilities
Accounts payable
125,600
115,200
Salary payable
104,800
122,400
Dividend payable
64,800
40,000
Income tax payable
69,160
30,800
Non-current liabilities
Notes payable
300,000
400,000
Shareholders’ equity
Paid up capital
296,400
218,800
Retained profits
57,240
10,800
Total liabilities and shareholder equity
1,018,000
938,000
Additional information
Sanofi Pharmaceuticals Limited sold old machinery for cash that originally cost $15,320 and then purchased new equipment using cash
Required
Prepare a Statement of Cash Flows and a reconciliation of Net profit and cash flow from operating activities for the year ended 31 December 2013
---------------------------------------------------------------
MCD2060 Trimester 3 2014 Tutorial 7 Cash Flow Student Handout
In Tutorial 7
Additional Question 1
Sanofi Pharmaceuticals Limited
A/cs Receivable
Bal
Bank
Sales
Bal
Inventory
Bal
COGS
A/c Pay
Bal
A/cs Payable
Bank
Bal
Bal
Inv
Prepaid Insurance
Bal
Insur
Bank
Bal
...