Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me /.. Please help me .. Please i will upvote pls Q2. Eco Bhd is a public listed company. The following are the
Please help me /.. Please help me .. Please i will upvote pls
Q2. Eco Bhd is a public listed company. The following are the financial statements for the year ended 31 December 2020, including comparatives. Eco Bhd Statement of Profit or Loss for the year ended 31 December 2020 RM RM Sales 531,300 Cost of sales (236,670) Gross profit 294,630 Profit on sale of plant Investment income Gain on sale of investment 3,150 2,415 6,510 12.075 306,705 Less: Expenses Selling and distribution costs Administrative costs Depreciation - Plant and Machinery Depreciation - Motor vehicle Finance cost Profit before tax Income tax expenses Profit for the year (60,375) (36,225) (2,415) (2,415) (14.490) (115,920) 190,785 (53,130) 137,655 2019 RM Eco Bhd Statements of Financial Position as at 31 December 2020 RM Assets Land 472,500 Plant and Machinery (at cost) 72,450 Accumulated Depreciation - Plant and Machinery (12,075) Motor vehicle (at cost) 48,300 Accumulated Depreciation - Motor vehicle (7,245) Investment 71,400 Inventories 17,955 Cash in hand 50,715 Trade receivables 58,800 Total Assets 772,800 338,100 96,600 (14,490) 48,300 (4,830) 96,600 12,075 14,490 41,055 627,900 Equities and Liabilities: Ordinary shares capital Retained earnings 10% convertible debentures Long term loan Tax payable Trade payables Accrued selling expenses Total Equity and Liabilities 338,100 216,150 120,750 55,545 6,678 30.177 5,400 772,800 241,500 120,750 144,900 79,695 2,640 36,000 2,415 627,900 Additional information: (1) All the new issues of shares were for cash and conversion of debentures. (2) Sale of plant and machinery was for cash. There were no purchases of plant and machinery during the year. (3) Land was purchased by cash. The decreasing amount of the 10% convertible debentures were converted into ordinary shares in the year 2020. Required: (a) Prepare a Statement of Cash Flows (using indirect method) for Eco Bhd for the year ended 31 December 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started