2. The following information has been extracted from the accounts of Anwar Logistics
for the financial year ended 31 December Year 4:
1. Changes in Non-Current Assets
Property Equipment Vehicles
£000 £000 £000
Acquisitions & Disposals
Purchases 400 220 560
Sales –150 −80 −130
Provisions for Depreciation
Written off to Income Statement – 80 120
On Sales – −45 −85
Revaluation of Assets
Increase in value 145
2. Sales receipts of Non-Current Assets
£000
Property 195
Equipment 20
Vehicles 35
3. An analysis of the Statement of Financial Position for the last two years showed
the following:
31 December Year 3 31 December Year 4
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Get Help Now!Tax and Debentures £000 £000
Corporation Tax Owing 49 41
Debenture Interest Due 16 8
5% Debentures* 180 220
* Note − Debentures were issued on 1 July Year 4
Current Assets and Liabilities £000 £000
Inventory 55 43
Trade Receivables 24 31
Trade Payables 27 18
4. During Year 4, Anwar Logistics had the following share issue:
Number of Ordinary Shares issued – 200,000
Par Value of Shares – 50p per share
Issue Price – 80p per share
5. The Income Statement and Statement of Retained Earnings for the year ended
31 December Year 4 showed the following:
£000
Debenture Interest ?
Ordinary Dividends Paid 45
Corporation Tax 90
Opening Retained Earnings 200
Closing Retained Earnings 515
(a) Using the Worksheet provided and the above information, prepare, in
accordance with IAS 7, a Statement of Cash Flows for Anwar Logistics for the
year ended 31 December Year 4.
(b) Outline 2 circumstances where a business entity does not have to produce a
Statement of Cash Flows.
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