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As financial accountant for Pinegrove Co, you are responsible for the preparation of a statement...

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Accounting

As financial accountant for Pinegrove Co, you are responsible for the preparation of a statement STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 20X9 Statement of Profit or Loss for the year ended 31 March 20X9
of cash flows for the year ended 31 March 20X9. The following information is available.
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 20X9. Dividends paid during the period-45
Property, plant and equipment held by Pinegrove Co are items of plant and equipment and
freehold premises. During 20X9 items of plant and equipment which have a carrying amount of
$38m at the date of disposal were disposed of, resulting in a profit of $9m
Short term investments :The short-term investments meet the definition of cash equivalents per
IAS 7 Statement of Cash Flows
10% debentures : On 1 August 20X8 $20m of 10% debentures was converted into $20m of $1
ordinary shares.
(v) Depreciation :The depreciation charge for the year included in the statement of profit or loss
was $53m.
Required: Using the information provided, prepare a statement of cash flows for Pinegrove Co for
the year ended 31 March 20X9 using the indirect method.
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