image Transcription Text 3 (7 Points) Caltrick Ltd Is Involved In College Essay Help Free

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Question 3 (7 points) Caltrick Ltd is involved in manufacturing swimming pool accessories. Caltrick Ltd’s statement of financial positions for the years ended 30 June 2020 and 30 June 2021 are presented below. 2021 2020 (SOOO) ($000) Assets Cash 166 Accounts 54 52 receivable Property: 156 120 plant and equipment Accumulated (36) (20) depreciation -property, plant and equipment Inventory 32 Total assets 204 Liabilities Bank 40 overdraft Accounts 60 60 payable Accrued 20 16 wages Provision for 8 12 annual leave Loans 60 Total 148 128 liabilities Net assets 284 76 Represented by: Shareholders’ funds Share capital 140 20 ordinary shares) Revaluation 28 surplus Retained 116 48 earnings Total 284 76 shareholders’ funds
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income (extract) of Caltrick Ltd for the year ended 30 June 2021 is: 2021 ($000) Revenues Sales 152 Interest (no interest 4 receivable at year end) Profit on sale of 8 property (which had a carrying amount of $20 000) Expenses Cost of goods sold (40) Depreciation (20) Wages (20) Employees annual (16) leave Profit for the year -68 . INTEREST AND DIVIDEND ARE CONSIDERED IN OPERATING ACTIVITIES IN ACCORDANCE WITH AASB107. REQUIRED Prepare a statement of cash flows using direct method for Caltrick Ltd for the year ended 30 June 2021. Comparatives are not required. Ignore tax effects. (7 marks)
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