please help me to solve this problem You are given the following statements of financial position:20202019AssetsRM260,000400,000360,0003,000,0003,000,00080,000RM200,000300,000400,0002,000,000CashAccounts receivablesInventoryLandBuildingEquipmentAccumulated depreciation -EquipmentTotal3,000,000150,000(30.000)(70.000)7.070.0005,980,000Liabilities and Equity.Accounts payablesBond payableCommon shares240,0001,200,0002,400,0003,230,0007,070,000200,0002,000,0001,200,0002.580.0005,980,000Retained earningsTotalAdditional information:Profit for the period 2020Dividends paid in 2020Proceeds equipment saleBook value equipment (prior to sale)Depreciation expense in 2020RM700,00050,00030,00020,00010,000Additional information:The purchase of land and sale of equipment were made in cash.As an accountant, you are required to prepare a statement of cash flows for Syarikat Besta forthe year ended 31 December 2020 using the indirect method.

Answer:- Cash flow statement:- A cash flow statement details the amount of cash and cash…

You are given the following statements of financial position: 2020 2019 Assets RM 260,000 400,000 360,000 3,000,000 3,000,000 80,000 RM 200,000 300,000 400,000 2,000,000 3,000,000 150,000 Cash Accounts receivables Inventory Land Building Equipment Accumulated depreciation - Equipment (30,000) (70,000) Total 1,070,000 5,980,000 Liabilities and Equity. Accounts payables Bond payable Common shares Retained earnings Total 240,000 1,200,000 2,400,000 3,230,000 7,070,000 200,000 2,000,000 1,200,000 2,580,000 5,980,000 Additional information: Profit for the period 2020 Dividends paid in 2020 Proceeds equipment sale Book value equipment (prior to sale) Depreciation expense in 2020 RM 700,000 50,000 30,000 20,000 10,000 Additional information: The purchase of land and sale of equipment were made in cash. As an accountant, you are required to prepare a statement of cash flows for Syarikat Besta for the year ended 31 December 2020 using the indirect method.

You are given the following statements of financial position: 2020 2019 Assets RM 260,000 400,000 360,000 3,000,000 3,000,000 80,000 RM 200,000 300,000 400,000 2,000,000 3,000,000 150,000 Cash Accounts receivables Inventory Land Building Equipment Accumulated depreciation - Equipment (30,000) (70,000) Total 1,070,000 5,980,000 Liabilities and Equity. Accounts payables Bond payable Common shares Retained earnings Total 240,000 1,200,000 2,400,000 3,230,000 7,070,000 200,000 2,000,000 1,200,000 2,580,000 5,980,000 Additional information: Profit for the period 2020 Dividends paid in 2020 Proceeds equipment sale Book value equipment (prior to sale) Depreciation expense in 2020 RM 700,000 50,000 30,000 20,000 10,000 Additional information: The purchase of land and sale of equipment were made in cash. As an accountant, you are required to prepare a statement of cash flows for Syarikat Besta for the year ended 31 December 2020 using the indirect method.

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 4MCQ

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