1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 2020 RM RM RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,600 17,800 6,300 12,600 7,100 Bank 24.400 82,650 26.000 85,600 FINANCED BY : Capital account: Balance at 1 January Add: Net Profit for the year 42,000 18,000 47,000 22,000 60,000 (13,000) 47,000 69,000 (15,000) 54,000 Less:Drawing Current Liabilities Trade account payable Bank overdraft 22,000 13,650 11,600 35,650 11,600 Non Current Liabilities Loan(repayable December 2022) 20.000 85,600 82,650 Required: Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December 2020.
1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 2020 RM RM RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,600 17,800 6,300 12,600 7,100 Bank 24.400 82,650 26.000 85,600 FINANCED BY : Capital account: Balance at 1 January Add: Net Profit for the year 42,000 18,000 47,000 22,000 60,000 (13,000) 47,000 69,000 (15,000) 54,000 Less:Drawing Current Liabilities Trade account payable Bank overdraft 22,000 13,650 11,600 35,650 11,600 Non Current Liabilities Loan(repayable December 2022) 20.000 85,600 82,650 Required: Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December 2020.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter14: Statement Of Cash Flows
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Transcribed Image Text:1. The statement of financial position of Fateh Enterprise, a sole trader, for two
successive years are shown below.
Statement of Financial Position as 31 December
2019
2020
RM
RM
RM
RM
Non Current Asset
Land and premises (cost RM52,000)
Plant and machinery:
(Cost RM19,000)
(Cost RM25,000)
44,000
40,000
14,250
19,600
59,600
58,250
Current Asset
Inventory
Trade account receivable
6,600
17,800
6,300
12,600
7,100
Bank
24.400
82,650
26.000
85,600
FINANCED BY :
Capital account:
Balance at 1 January
Add: Net Profit for the year
42,000
18,000
47,000
22,000
60,000
(13,000)
47,000
69,000
(15,000)
54,000
Less:Drawing
Current Liabilities
Trade account payable
Bank overdraft
22,000
13,650
11,600
35,650
11,600
Non Current Liabilities
Loan(repayable December 2022)
20.000
85,600
82,650
Required:
Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December
2020.
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