1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 RM RM 2020 RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,600 17,800 6,300 12,600 7,100 Bank 24.400 82,650 26.000 85,600 FINANCED BY: Capital account: Balance at 1 January Add: Net Profit for the year 47,000 42,000 18.000 22.000 60,000 (13,000) 47,000 69,000 |(15,000) 54,000 Less:Drawing Current Liabilities Trade account payable Bank overdraft 22,000 13,650 11,600 35,650 11,600 Non Current Liabilities Loan(repayable December 2022) 20.000 85.600 82,650 Required: Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December 2020.

1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 RM RM 2020 RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,600 17,800 6,300 12,600 7,100 Bank 24.400 82,650 26.000 85,600 FINANCED BY: Capital account: Balance at 1 January Add: Net Profit for the year 47,000 42,000 18.000 22.000 60,000 (13,000) 47,000 69,000 |(15,000) 54,000 Less:Drawing Current Liabilities Trade account payable Bank overdraft 22,000 13,650 11,600 35,650 11,600 Non Current Liabilities Loan(repayable December 2022) 20.000 85.600 82,650 Required: Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December 2020.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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