6,000 ordinary shares of Sh.100 per value were issued at a premium on 1 March 2001.
Revenue reserves of Pivot Ltd. as at 31 December 2000 were Sh.948,000
Revenue reserves of Pivot Ltd as at 31 December 2001 were Sh.1,680,000.
A statement of cash flow using the direct method, including a reconciliation of the profit for the year with cash from operations (15 marks)
(Total: 20 marks
The criteria that must be satisfied before an item of property plant and equipmentshould be recognized as an asset are:(1) It is possible that future economic benefits associated with the asset…