De Luna Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 RM’000 Sales 1,287,250 Cost of goods sold Gross profit Less: Expenses Depreciation General expenses Interest expense Salary expense (754,000) 533,250 57,000 40,150 107,000 284,100 Profit before tax 45,000 Less: Income tax 10,000 35,000 Profit after tax Additional information for the financial year 2019 is as follows: 1. Building costing of RM130,000,000 was purchased by cash of RM60,000,000 and the balance by issuing ordinary shares. 2. All income taxes incurred were paid during the financial year. 3. De Luna Bhd issued 4,000,000 ordinary shares at RM5.00 per share during the financial year. 4. De Luna Bhd declared and paid dividends of RM15,000,000 at the end of the financial year. 5. All sales during the financial year were made on account. 6. All inventories were purchased on account. 7. The general expenses are related to prepayment. REQUIRED: (a) Using the indirect method, prepare the Statement of Cash Flow for the year ended 30 June 2019. (b) Prepare the section of cash flows from operating activities using the direct method.

De Luna Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 RM’000 Sales 1,287,250 Cost of goods sold Gross profit Less: Expenses Depreciation General expenses Interest expense Salary expense (754,000) 533,250 57,000 40,150 107,000 284,100 Profit before tax 45,000 Less: Income tax 10,000 35,000 Profit after tax Additional information for the financial year 2019 is as follows: 1. Building costing of RM130,000,000 was purchased by cash of RM60,000,000 and the balance by issuing ordinary shares. 2. All income taxes incurred were paid during the financial year. 3. De Luna Bhd issued 4,000,000 ordinary shares at RM5.00 per share during the financial year. 4. De Luna Bhd declared and paid dividends of RM15,000,000 at the end of the financial year. 5. All sales during the financial year were made on account. 6. All inventories were purchased on account. 7. The general expenses are related to prepayment. REQUIRED: (a) Using the indirect method, prepare the Statement of Cash Flow for the year ended 30 June 2019. (b) Prepare the section of cash flows from operating activities using the direct method.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 5MAD: Analyze Home Depot The Home Depot (HD) reported the following data (in millions) in its recent...

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Analyze Home Depot The Home Depot (HD) reported the following data (in millions) in its recent financial statements: a. Determine the asset turnover ratio for Home Depot for Year 2 and Year 1. Round to two decimal places. b. What conclusions can be drawn from these ratios concerning the change in the ability of Home Depot to effectively use its assets to generate sales?
Question The financial statements of Harry Ltd and its subsidiary Olivia Ltd have been extracted from their financial records at 30 June 2023 and are presented below. Harry Ltd$ Olivia Ltd$Sales 839 250 725 000Cost of goods sold (580 000) (297 500)Gross profit 259 250 427 500Dividends received 116 250 -Management fee revenue 33 125 Gain on sale of plant 43 750 Less Expenses Administration (38 500) (48 375)Depreciation (30 625) (71 000)Management fee - (33 125)Other expenses (126 375) (96 250)Profit before tax 256 875 178 750Tax expense (76 875) (52 750)Profit after tax 180 000 126 000Retained earnings 1 July 2022 399 250 299 000 579 250 425 000Dividends paid (171 750) (116 250)Retained earnings 30 June 2023 407 500 308 750 Statement of financial position Harry Ltd$ Olivia Ltd$Shareholders’ equity Retained earnings 407 500 308 750Share capital 437…
The following assets are included in the December 31, 2022, balance sheet ofFortible Auto Parts, Inc.Accounts Receivable(net of Allowance for Uncollectible Accounts) $ 75,000Accumulated Depreciation, Building 20,000Building 170,000Cash 90,000Land 145,000Merchandise Inventory 92,000Trademark 125,500The total dollar amount of assets classified as property, plant, and equipment onFortible Auto Part's December 31, 2022, classified balance sheet is ____
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