QUESTION 3De Luna Bhd is a major retailer of branded cars in Peninsular Malaysia. The comparativeStatement of Financial Position and Statement of Profit or Loss and Other Comprehensive Incomefor De Luna Bhd as of 30 June 2019 are as follows:De Luna BhdStatement of Financial PositionAs at 30 June 201920192018RM'000RM'000Non-Current AssetsBuildingLess: Accumulated depreciation728,000182,000598,000125,000473,000546,000Current AssetsInventoryAccounts receivable252,000107,000282,00090,00039,00052.000463,000PrepaymentCash41,00055.250455.250L001.250Total current assetTotal Assets936,000EquityShare capitalRetained earningsTotal equity402,000204.000606.000312,000184.000496.000Long-Term liabilityBond102,000132,000Current liabili tiesAccounts payableSalary payableInterest payableTotal current liabilities147,000155,00079,25059.000293.250104,00057.000308.000Total LiabilitiesTotal Equity and Liabilities0.000936.000395.2501.001,250 De Luna BhdStatement of Profit or Loss and Other Comprehensive Incomefor the year ended 30 June 2019RM'000SalesCost of goods soldGross profitLess: ExpensesDepreciationGeneral expensesInterest expenseSalary expense1,287,250(754.000)533,25057,00040,150107,000284.100Profit before tax45,000Less: Income taxProfit after tax10.00035.000Additional information for the financial year 2019 is as follows:1. Building costing of RM130,000,000 was purchased by cash of RM60,000,000 andthe 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 thefinancial year.4. De Luna Bhd declared and paid dividends of RM15,000,000 at the end of thefinancial 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 30June 2019.(b) Prepare the section of cash flows from operating activities using the direct method.

The cash flow statement is one of the important financial statement of the business. It provides the…

000 RM'000 Non-Current Assets Building Less: Accumulated depreciation 728,000 182,000 546,000 598,000 125,000 473,000 Current Assets 282,000 90,000 39,000 52.000 463.000 236,000 Inventory Accounts receivable Prepayment 252,000 107,000 41,000 55,250 455.250 LO01.250 Cash Total current asset Total Assets Equity Share capital Retained earnings Total equity 402,000 204.000 606.000 312,000 184.000 496.000 Long-Term liability Bond 102,000 132,000 Current liabilities Accounts payable Salary payable Interest payable Total current liabilities 155,000 79,250 59.000 293.250 147,000 104,000 57.000 308.000 Total Liabilities Total Equity and Liabilities 440.000 936.000 395,250 1.001,250

000 RM'000 Non-Current Assets Building Less: Accumulated depreciation 728,000 182,000 546,000 598,000 125,000 473,000 Current Assets 282,000 90,000 39,000 52.000 463.000 236,000 Inventory Accounts receivable Prepayment 252,000 107,000 41,000 55,250 455.250 LO01.250 Cash Total current asset Total Assets Equity Share capital Retained earnings Total equity 402,000 204.000 606.000 312,000 184.000 496.000 Long-Term liability Bond 102,000 132,000 Current liabilities Accounts payable Salary payable Interest payable Total current liabilities 155,000 79,250 59.000 293.250 147,000 104,000 57.000 308.000 Total Liabilities Total Equity and Liabilities 440.000 936.000 395,250 1.001,250

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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