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    Cash Flow Question

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    omair
    Bonzai Ltd's financial position and performance for the year ended 31 March 2022: - Total assets decreased from $17.7 million in 2021 to $16.7 million in 2022, largely due to decreases in prepaid expenses, inventories, and accounts receivable. - Revenue was $3.5 million with net income of $665,790. However, operating expenses and a loss on disposal of a machine impacted profitability. - Several notes provide additional context on cash flows, including equipment purchases, treasury share transactions, dividends paid, and allowance for doubtful accounts.

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    Cash Flow Question

    Uploaded by

    omair
    28 views2 pages
    Bonzai Ltd's financial position and performance for the year ended 31 March 2022: - Total assets decreased from $17.7 million in 2021 to $16.7 million in 2022, largely due to decreases in prepaid expenses, inventories, and accounts receivable. - Revenue was $3.5 million with net income of $665,790. However, operating expenses and a loss on disposal of a machine impacted profitability. - Several notes provide additional context on cash flows, including equipment purchases, treasury share transactions, dividends paid, and allowance for doubtful accounts.

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    Bonzai Ltd's financial position and performance for the year ended 31 March 2022: - Total assets decreased from $17.7 million in 2021 to $16.7 million in 2022, largely due to decreases in prepaid expenses, inventories, and accounts receivable. - Revenue was $3.5 million with net income of $665,790. However, operating expenses and a loss on disposal of a machine impacted profitability. - Several notes provide additional context on cash flows, including equipment purchases, treasury share transactions, dividends paid, and allowance for doubtful accounts.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    28 views2 pages

    Cash Flow Question

    Uploaded by

    omair
    Bonzai Ltd's financial position and performance for the year ended 31 March 2022: - Total assets decreased from $17.7 million in 2021 to $16.7 million in 2022, largely due to decreases in prepaid expenses, inventories, and accounts receivable. - Revenue was $3.5 million with net income of $665,790. However, operating expenses and a loss on disposal of a machine impacted profitability. - Several notes provide additional context on cash flows, including equipment purchases, treasury share transactions, dividends paid, and allowance for doubtful accounts.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Bonzai Ltd Bonzai Ltd

    Comparative Statements of Financial Position Income Statement


    31-Mar For the Year Ended 31 March 2022
    2022 2021 Sales 3,529,420
    Assets less: Cost of goods sold 1,179,500
    Property, Plant and Equipment 9,400,000 8,080,000 Gross Profit 2,349,920
    Less: Accumulated Depreciation 6,025,000 3,375,000 6,217,500 1,862,500 Operating Expenses 1,466,630
    Prepaid Expenses 315,000 798,000 Income from Operations 883,290
    Supplies 28,000 30,000 Interest Expense 35,000
    Inventories 1,850,000 2,084,000 Loss on disposal of machine 182,500
    Accounts Receivable 2,509,000 6,429,000 Income before taxes 665,790
    Less: Income tax expenses --
    Allowance for Doubtful Account 175,630 2,333,370 167,500 6,261,500 Net Income 665,790

    Cash and cash equivalents 8,778,290 6,680,370


    Total 16,679,660 17,716,370
    The following information is gathered in order to prepare the Statement of Cash Flows:
    Equities and Liabilities
    (1) In April 2021, the company purchased new machine with a fair value of $220,000 by issuing 24,000 ordinary shares
    at $180,000 and trading in a used machine for rest of payment. No other acquisitions or disposals occurred during the
    Share capital – Ordinary (Par value $1 each) 3,645,000 3,000,000 period.
    Share Premium – Ordinary 5,464,000 3,000,000
    Share Premium – Treasury 500,000 - (2) In May 2021, the company bought some treasury shares at cost of $3.50 each share. The company also sold
    Retained Earnings 6,072,410 6,305,620 40,000 treasury shares for $170,000 in June 2021.
    Less: Treasury shares -2,850,000 -
    Notes Payable 2,000,000 2,000,000 (3)  The company paid a cash dvidend of $0.20 per share In January, 2022. The company also paid a small
    share dividends In March, 2022 when the market price per share was $5.5.
    Accounts Payable 1,183,250 1,680,750
    Interest Payable 35,000 70,000
    Unearned Revenue 630,000 1,660,000 (4) On 31 March 2022, the company estimated the allowance for bad debt to be 5% of the accounts receivable
    Total 16,679,660 17,716,370 balance at that date.

    (5) Operating expenses include bad debts and depreciation expenses.


    Top Gun Incorporation
    Comparative Statements of Financial Position
    31-Mar
    2021 2022
    Assets
    Property, 940,000 808,000
    Less: Acc 602,500 337,500 621,750 186,250
    Prepaid Expenses 31,500 79,800
    Supplies 2,800 3,000
    Inventories 185,000 208,400
    Accounts 250,900 642,900
    Less:
    Allowance 17,563 233,337 16,750 626,150
    Cash and cash equiv 877,829 668,037
    Total 1,667,966 ###

    Equities and Liabili


    Share capital – Ordi 364,500 300,000
    Share Premium – Or 546,400 300,000
    Share Premium – Tr 50,000 -
    Retained Earnings 607,241 630,562
    Less: Treasury share -285,000 -
    Notes Payable 200,000 200,000
    Accounts Payable 118,325 168,075
    Interest Payable 3,500 7,000
    Unearned Revenue 63,000 166,000
    Total 1,667,966 ###

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