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1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years is shown below. Statement of Financial Position as
1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years is shown below. Statement of Financial Position as 31 December 2019 2020 RM RM RM RM Non Current Asset Land and premises (cost RM52,000) 44,000 40,000 Plant and machinery: (Cost RM19,000) 14,250 (Cost RM25,000) 19,600 58,250 59,600 Current Asset Inventory 6,600 6,300 Trade account receivable 17,800 12,600 Bank 7.100 24.400 26.000 82.650 85.600 FINANCED BY: Capital account: Balance at 1 January 42,000 47,000 Add: Net Profit for the year 18.000 22.000 60,000 69,000 Less:Drawing (13,000) (15,000) 47,000 54,000 Current Liabilities Trade account payable 22,000 11,600 Bank overdraft 13.650 35,650 11,600 Non Current Liabilities Loan(repayable December 2022) 20.000 82.650 85.600 Required: Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December 2020.
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