Part B consists of 5 questions for a total of 85 marks. Each question should be

Question

Part B consists of 5 questions for a total of 85 marks. Each question should be answered on the answer booklet provided. Question 1: Statement of Cash Flows (17 marks) The following information relates to F&K; Ltd F&K; Ltd Comparative Statement of Financial Position as at 31 December 2017 2017 2016 urrent Assets 95,000 105 330,000150,00 (20,000) (10,000 270,000 260,00 ash Accounts receivable llowance for doubtful debts Prepaid insurance 10,00 5,00 Non-Current Assets 540 480 pment 587 585 (332,000) (245,000 Total Assets 1,480,000 1,330, urrent Liabilities 190 64 24 360 52, 16, s payable ages payable ividend payable Non-Current Liabilities rrowings Total Liabilities Net Assets 746,000 488,00 1,024, 916, 414, hareholders' Equitv 250,000 240,00 90,00050,00 0 20,00 Share capital t revaluation reserve (Land) iéneral reserve Retained earnings Total Shareholders' Equity 6,000104,00

Explanation / Answer

Payment for Purchase of Equipment in $000 Opening balance of Equipment 585 Less: Cost of equipment sold (70+213) 283 Balance of equipment 302 Ending balance of Equipment 587 Less:Balance of equipment -302 Payment for Purchase of Equipment 285 working Accumualted depreciation beg balance 245 Add: depreciation 300 Less: Accumualted depreciation end balance 332 Accumualted depreciation on equipment sold 213 Payment of Dividend in $000 Opening balance Retained Earnings $104 Add: Net Income 122 Add: Transferred from general Reserve 20 Less: ending balance Retained Earnings -116 Dividend declared $130 Add: Opening balance dividend payable 16 Less: ending balance dividend payable 24 Dividend paid $122

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