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Darius Limited Cashflow

The document provides financial data for Darius Limited, including the statement of financial position and profit and loss for the year ended 31 July 2023. It outlines the necessary information to prepare a cash flow statement using the indirect method in accordance with IAS 7, detailing assets, liabilities, equity, and additional information such as asset sales and dividends paid. The task requires the compilation of this data into a structured cash flow statement.

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6 views1 page

Darius Limited Cashflow

The document provides financial data for Darius Limited, including the statement of financial position and profit and loss for the year ended 31 July 2023. It outlines the necessary information to prepare a cash flow statement using the indirect method in accordance with IAS 7, detailing assets, liabilities, equity, and additional information such as asset sales and dividends paid. The task requires the compilation of this data into a structured cash flow statement.

Uploaded by

patiencebogopa198
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Practice Question Cashflow statements

Darius Limited is a limited liability company. You have been tasked with preparing the statement of
cash flows using the indirect method in accordance with the IAS 7 format for the year ended 31 July
2023. The following information has been provided to you.
Statement of Financial Position as 31 July
2,023 2,022
BWP’000 BWP’000
Non-current assets 8,250 6,000
Less Accumulated Deprecaton 4,200 3,600
4,050 2,400

Current assets
Inventories 2,550 2,850
Trade receivables 2,850 2,175
Cash at bank 300 75
5,700 5,100
Total Assets 9,750 7,500

Equity and liabilities


Ordinary share capital 1,875 1,500

Retained earnings 2,325 1,650


4,200 3,150
Non-current liabilities
Loan notes 10% 2,250 1,500

Current liabilities
Trade payables 2,775 2,400
Income tax 525 450
Total Liabilities 5,550 4,350
Total Equity and Liabilities 9,750 7,500

Statement of Profit and loss for the year ended 31 July 2023
BWP’000
Profit from operations 2,063
Loan note interest 225
1,838
Income tax expense 525
Net profit for the year 1,313

Additional information
1. During the year non-current assets were sold for BWP375,000. These assets had a carrying
value and cost of BWP261,000 and BWP600,000 respectively.
2. Dividends paid during 2023 amounted to BWP563,000

Required
Prepare a cashflow statement using the above information according to IAS 7

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