Question 1: Here are the comparative statements of financial position for XYZ Go in Tk.
XYZ Co
Comparative Statement of Financial Position
December 31
Assets 2023 2022
Land 73,000 1,00,000
Equipment 260,000 200,000
Accumulated Depreciation-Equipment (66,000) (34,000)
Inventory 170.000 187,000
Account Receivable 85,000 71,000
Cash 73,000 33,000
Total 595,000 557,000
‗‗‗‗‗‗‗‗ ‗‗‗‗‗‗
Equity and Liabilities
Share Capital-Ordinary (Tk 1 per) 216,000 174,000
Retained Earnings 194,000 136,000
Bonds Payable 150,000 200,000
Accounts Payable 35,000 47,000
Total 595,000 557,000
‗‗‗‗‗‗‗‗ ‗‗‗‗‗‗
Additional information:
1. Net income for 2023 was Tk 103,000. 20 Marks (10 Marks
2. Depreciation expense was Tk 32,000,
3. Cash dividends of Tk 45,000 were declared and paid.
4. Bonds payable amounting to Tk 50,000 were redeemed for cash Tk 50,000.
5. Ordinary shares were issued for Tk 42,000 cash.
6. No equipment was sold during 2023.
7. Land was sold for its book value of Tk 27,000
Requirement: Prepare a statement of cash flows for 2023 using the indirect method.
