Additional information at 31 December 2020:Fixtures bought in 2020 cost RM800.Van bought in 2020 cost RM11,000.Required:Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December 2020. The following statements was extracted from the books of ShafNita Sdn. Bhd. at 31 December2019 and 2020.ShafNita Sdn. Bhd.Statement of Financial Position as at 31 December20192020RMRMRMRMNon Current AssetsBuildingFixtures less accumulated depreciationVan less accumulated depreciation100,000100,0004,00014,8003,6007,840111,440118,800Current Asset11,20024,800InventoryTrade account receivable12,80016,4001,800440BankCash40026,24041,600Total assets137,680160,400Finance by:Capital account:Balance at 1 January| Add: Net profit for the year74,080105,08070,40042,320Cash introduced20,000144,480167,400|Less: Drawings(39,400)105,080(43,200)124,200Non Current LiabilitiesLoan (repayable in 10 years time)20,00030,000Current LiablitiesAccount Payable12,6006,012Bank overdraft188Retained earnings32,60036,200Total liabilities and equity137,680160,400

Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable…

Answered: Van bought in 2020 cost RM11,000.…

Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December 2020.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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