The statement of financial position for Aminah Kaya Berhad together with relevant notes aregiven below. Aminah Kaya Berhad produces crockery for sale to shops and through its onlineplatform.Aminah Kaya BerhadStatement of Financial Position as at 30 June 2020 and 30 June 20212021RM'0002020RM'000ASSETNon-Current AssetsTrademarks10012010,20010,3008,6008,720Property Plant & equipmentCurrent Asset10001,1001,550InventoriesTrade and other receivables1,800Cash and Cash Equivalent2003103,0002.960TOTAL ASSET13.30011.680LIABILITIESCurrent LiabilitiesTrade and other payablesCurrent tax liability1,2001,0002503001.5001.250Non-Current LiabilitiesLong Term Borrowings3,2002,600TOTAL LIABILITIES4,7003,850EQUITYShare CapitalRetained EarningsTotal Equity3,5005,1008.6002,9504,8807.830TOTAL EQUITY AND13,30011.680LIABILITIESDuring the year to 30 June 2021:1. Aminah Kaya Berhad paid RM2,500,000 for a new property, plant and equipment.2. Depreciation of RM800,000 was charged on property, plant and equipment.3. Plant and equipment with a net book value of RM100,000 was sold for RM150,0004. RM20,000 amortization was charged on the trademarks.5. Dividend of RM100,000 were paid.6. Taxation of RM275,000 were paid.7. RM200,000 interest was paid on the long-term borrowings.8. Profit for the year was RM845,000.9. 200,000 new ordinary shares were issued for RM2.75 each.10. Aminah Kaya Berhad received no interest during year to 30 June 2021.Required:Prepare the Cash Flow Statement of Aminah Kaya Berhad indirect method for the year ended30 June 2021.

Financial statements of the company includes the cash flow statement. It is cash book but shows the…

The statement of financial position for Aminah Kaya Berhad together with relevant notes are given below. Aminah Kaya Berhad produces crockery for sale to shops and through its online platform. Aminah Kaya Berhad Statement of Financial Position as at 30 June 2020 and 30 June 2021 2021 2020 RM'000 RM'000 ASSET Non-Current Assets Trademarks 100 120 Property Plant & equipment 10,200 10.300 8,600 8,720 Current Asset Inventories 1000 1,100 1,550 Trade and other receivables 1,800 Cash and Cash Equivalent 200 310 3,000 2.960 TOTAL ASSET 13.300 11.680 LIABILITIES Current Liabilities Trade and other payables Current tax liability 1,000 250 1,200 300 1.500 1.250 Non-Current Liabilities Long Term Borrowings 3,200 2,600 TOTAL LIABILITIES 4,700 3,850 EQUITY Share Capital Retained Earnings Total Equity 2,950 4,880 7.830 3,500 5,100 8,600 TOTAL EQUITY AND LIABILITIES 13.300 11.680 During the year to 30 June 2021: 1. Aminah Kaya Berhad paid RM2,500,000 for a new property, plant and equipment. 2. Depreciation of RM800,000 was charged on property, plant and equipment.

The statement of financial position for Aminah Kaya Berhad together with relevant notes are given below. Aminah Kaya Berhad produces crockery for sale to shops and through its online platform. Aminah Kaya Berhad Statement of Financial Position as at 30 June 2020 and 30 June 2021 2021 2020 RM'000 RM'000 ASSET Non-Current Assets Trademarks 100 120 Property Plant & equipment 10,200 10.300 8,600 8,720 Current Asset Inventories 1000 1,100 1,550 Trade and other receivables 1,800 Cash and Cash Equivalent 200 310 3,000 2.960 TOTAL ASSET 13.300 11.680 LIABILITIES Current Liabilities Trade and other payables Current tax liability 1,000 250 1,200 300 1.500 1.250 Non-Current Liabilities Long Term Borrowings 3,200 2,600 TOTAL LIABILITIES 4,700 3,850 EQUITY Share Capital Retained Earnings Total Equity 2,950 4,880 7.830 3,500 5,100 8,600 TOTAL EQUITY AND LIABILITIES 13.300 11.680 During the year to 30 June 2021: 1. Aminah Kaya Berhad paid RM2,500,000 for a new property, plant and equipment. 2. Depreciation of RM800,000 was charged on property, plant and equipment.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 80.2C

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