Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Additional information at 31 December 2020:
Fixtures bought in 2020 cost RM800.
Van bought in 2020 cost RM11,000.
Required:
Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December 2020.
Transcribed Image Text:Additional information at 31 December 2020: Fixtures bought in 2020 cost RM800. Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December 2020.
The following statements was extracted from the books of ShafNita Sdn. Bhd. at 31 December
2019 and 2020.
ShafNita Sdn. Bhd.
Statement of Financial Position as at 31 December
2019
2020
RM
RM
RM
RM
Non Current Assets
Building
Fixtures less accumulated depreciation
Van less accumulated depreciation
100,000
100,000
4,000
14,800
3,600
7,840
111,440
118,800
Current Asset
11,200
24,800
Inventory
Trade account receivable
12,800
16,400
1,800
440
Bank
Cash
400
26,240
41,600
Total assets
137,680
160,400
Finance by:
Capital account:
Balance at 1 January
| Add: Net profit for the year
74,080
105,080
70,400
42,320
Cash introduced
20,000
144,480
167,400
|Less: Drawings
(39,400)
105,080
(43,200)
124,200
Non Current Liabilities
Loan (repayable in 10 years time)
20,000
30,000
Current Liablities
Account Payable
12,600
6,012
Bank overdraft
188
Retained earnings
32,600
36,200
Total liabilities and equity
137,680
160,400
Transcribed Image Text:The following statements was extracted from the books of ShafNita Sdn. Bhd. at 31 December 2019 and 2020. ShafNita Sdn. Bhd. Statement of Financial Position as at 31 December 2019 2020 RM RM RM RM Non Current Assets Building Fixtures less accumulated depreciation Van less accumulated depreciation 100,000 100,000 4,000 14,800 3,600 7,840 111,440 118,800 Current Asset 11,200 24,800 Inventory Trade account receivable 12,800 16,400 1,800 440 Bank Cash 400 26,240 41,600 Total assets 137,680 160,400 Finance by: Capital account: Balance at 1 January | Add: Net profit for the year 74,080 105,080 70,400 42,320 Cash introduced 20,000 144,480 167,400 |Less: Drawings (39,400) 105,080 (43,200) 124,200 Non Current Liabilities Loan (repayable in 10 years time) 20,000 30,000 Current Liablities Account Payable 12,600 6,012 Bank overdraft 188 Retained earnings 32,600 36,200 Total liabilities and equity 137,680 160,400
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