De Luna Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 RM’000 Sales 1,287,250 Cost of goods sold Gross profit Less: Expenses Depreciation General expenses Interest expense Salary expense (754,000) 533,250 57,000 40,150 107,000 284,100 Profit before tax 45,000 Less: Income tax 10,000 35,000 Profit after tax Additional information for the financial year 2019 is as follows: 1. Building costing of RM130,000,000 was purchased by cash of RM60,000,000 and the balance by issuing ordinary shares. 2. All income taxes incurred were paid during the financial year. 3. De Luna Bhd issued 4,000,000 ordinary shares at RM5.00 per share during the financial year. 4. De Luna Bhd declared and paid dividends of RM15,000,000 at the end of the financial year. 5. All sales during the financial year were made on account. 6. All inventories were purchased on account. 7. The general expenses are related to prepayment. REQUIRED: (a) Using the indirect method, prepare the Statement of Cash Flow for the year ended 30 June 2019. (b) Prepare the section of cash flows from operating activities using the direct method.
De Luna Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 RM’000 Sales 1,287,250 Cost of goods sold Gross profit Less: Expenses Depreciation General expenses Interest expense Salary expense (754,000) 533,250 57,000 40,150 107,000 284,100 Profit before tax 45,000 Less: Income tax 10,000 35,000 Profit after tax Additional information for the financial year 2019 is as follows: 1. Building costing of RM130,000,000 was purchased by cash of RM60,000,000 and the balance by issuing ordinary shares. 2. All income taxes incurred were paid during the financial year. 3. De Luna Bhd issued 4,000,000 ordinary shares at RM5.00 per share during the financial year. 4. De Luna Bhd declared and paid dividends of RM15,000,000 at the end of the financial year. 5. All sales during the financial year were made on account. 6. All inventories were purchased on account. 7. The general expenses are related to prepayment. REQUIRED: (a) Using the indirect method, prepare the Statement of Cash Flow for the year ended 30 June 2019. (b) Prepare the section of cash flows from operating activities using the direct 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 6MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense...
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