2. The following Statement of Financial Position was extracted from the books ofGagah Perkasa Sdn Bhd at 31 December 2018 and 2019.Gagah Perkasa Sdn BhdStatement of Financial Position as at 31 December20182019RMRMRMRMNon-current AssetsBuildingsFixtures less DepreciationVan less Depreciation50,0001,8003,92055,72050,0002,0007,40059,400Current AssetsInventoryTrade accounts receivablesBank5,6006,40090012,4008,200Cash22020013,12068,84020,80080,200TOTAL ASSETSFinanced by:Capital account :Balance as at 1 JanuaryAdd : Net Profit37,04035,20052,54021,16010.00083,700(21.600)Cash introducedLess : Drawings72,240(19,700)52,54062,100Non-current LiabilitiesLoan (repayable in 10 years' time)10,00015,000Current LiabilitiesAccount payableBank overdraft6,3003,0069418.10080,200TOTAL LIABILITIESTOTAL LIABILITIES AND CAPITAL16.30068,840Additional information at 31 December 2019:• Fixtures bought in 2019 cost RM400.• Van bought in 2019 cost RM5,500.Prepared by: Puan Siti Nor Junita Mohd RadziRequired:Prepare Statement of Cash Flow for Gangsa Perak Sdn Bhd for the ended 31December 2019.

Name: 2. The following Statement of Financial Position was extracted from t
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Description: 2. The following Statement of Financial Position was extracted from the books ofGagah Perkasa Sdn Bhd at 31 December 2018 and 2019.Gagah Perkasa Sdn BhdStatement of Financial Position as at 31 December20182019RMRMRMRMNon-current AssetsBuildingsFixtu

Cash flow statement: It is a statement that provides details regarding cash inflows and outflows of…

Business

Accounting

2. The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019. Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables 5,600 6,400 12,400 8,200 Bank 900 Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account : Balance as at 1 January Add : Net Profit Cash introduced 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) 72,240 (19.700) Less : Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft TOTAL LIABILITIES TOTAL LIABILITIES AND CAPITAL 3,006 94 6,300 16.300 68,840 18.100 80,200 Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.

2. The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019. Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables 5,600 6,400 12,400 8,200 Bank 900 Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account : Balance as at 1 January Add : Net Profit Cash introduced 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) 72,240 (19.700) Less : Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft TOTAL LIABILITIES TOTAL LIABILITIES AND CAPITAL 3,006 94 6,300 16.300 68,840 18.100 80,200 Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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The following Statement of Financial Position was extracted from the books ofGagah Perkasa Sdn Bhd at 31 December 2018 and 2019.Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December2018 2019RM RM RM RM Non-current AssetsBuildings 50,000 50,000Fixtures less Depreciation 1,800 2,000Van less Depreciation 3,920 7,40055,720 59,400 Current AssetsInventory 5,600 12,400Trade accounts receivables 6,400 8,200Bank 900 -Cash 220 200 13,120 20,800TOTAL ASSETS 68,840 80,200Financed by :Capital account :Balance as at 1 January 37,040 52,540Add : Net Profit 35,200 21,160Cash introduced - 10,00072,240 83,700Less : Drawings (19,700) (21,600) 52,540 62,100 Non-current LiabilitiesLoan (repayable in 10 years’ time) 10,000 15,000Current LiabilitiesAccount payable 6,300 3,006Bank overdraft - 94TOTAL LIABILITIES 16,300 18,100TOTAL LIABILITIES AND CAPITAL 68,840 80,200Additional information at 31 December 2019: Fixtures bought in 2019 cost RM400. Van bought in 2019 cost RM5,500. Prepared…
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The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019 Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings 50,000 50,000 Fixtures less Depreciation 1,800 2,000 Van less Depreciation 3,920 7,400 55,720 59,400 Current Assets Inventory 5,600 12,400 Trade accounts receivables 6,400 8,200 Bank 900 - Cash 220 200 13,120 20,800 TOTAL ASSETS 68,840 80,200 Financed by : Capital account : Balance as at 1 January 37,040 52,540 Add : Net Profit 35,200 21,160 Cash introduced - 10,000 72,240 83,700…
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