Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The comparative Statements of Financial Position for 2020 and 2019 of Melati Bhd are as follows: mered ed out of 2020 2019 Assets RM RM

image text in transcribed
image text in transcribed
The comparative Statements of Financial Position for 2020 and 2019 of Melati Bhd are as follows: mered ed out of 2020 2019 Assets RM RM ag question Cash 77,375 (22,955) 80,000 68,250 Accounts receivable Inventory Prepaid insurance 145,000 165,000 1,500 2,000 Investment 85,000 15,500 640,000 Property, plant and equipment (net) 553,000 Total assets 979,375 830,295 76,340 102,760 20,000 24,500 28,600 23.500 Liabilities and shareholders' equity Accounts payable Salaries payable Tax payable Interest payable Borrowing Bonds payable Ordinary share capital Retained earnings 14.400 19.500 25,000 75,000 200,000 0 300.000 300,000 315,035 285,035 Tota liabilities and shareholdersleguita 979,375 830.295 WeyPLUS e-commerce Grammarly Apps Pearson Sign In IZBROU 2500 14,400 19,500 75,000 25,000 maxpayable Interest payable Borrowing Bonds payable Ordinary share capital Retained earnings Total liabilities and shareholders' equity 0 200,000 300,000 315,035 300,000 285,035 830,295 979,375 Additional information for 2020: (1) Sold an investment costing RM69,500 for cash, RM74,000. (2) Equipment with a carrying amount of RM5,000 was sold for RM6,000. (3) Issued bonds payable, RM200,000. (4) Purchased a new equipment for cash, RM145,000. (5) Paid cash dividends of RM20,000. (6) Net profit before tax was RM64,300. (7) Tax expense and interest expense were RM 14,300 and RM6,100 respectively, Required: Prepare the Statement of Cash Flows of Melati Bhd for 2020 using the indirect method according to MFRS 107. Show all workings. (20 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Ch 1-12

Authors: Dansby

5th Edition

0763834955, 978-0763834951

More Books

Students also viewed these Accounting questions