BOAF1060 - Financial Accounting Assignment

Assignment Task

Fanda Company commenced trading on 1 January 2021 with a medium term loan of K21,000 and a share issue which raised K35,000. The company purchased non- current assets for K21,000 cash, and during the year to 31 December 2021 entered into the following transactions.

a. Purchases from suppliers were K19,500, of which K2,550 was unpaid at the end of the year.

b. Wages and salaries amounted to K10,500, of which k750 was unpaid at the end.

c. Interest on loan of K2,100 was fully paid in the year and a repayment of K5,250 was made

d. Sales revenue was K29, 400, including K900 receivables at the end of the year.

e. Interest on cash deposit at the bank amounted to K75 f. A dividend of K4,000 was proposed at 31 December 2021

Required

Using the indirect method prepare a cash flow statement in a form suitable for presentation. 

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