Homework Help is Here – Start Your Trial Now!
Business
Accounting
2 The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019, Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables Bank 5,600 6,400 900 12,400 8,200 Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account: Balance as at 1 January 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) Add: Net Profit Cash introduced 72,240 (19.700) Less: Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft TOTAL LIABILITIES TOTAL LIABILITIES AND CAPITAL 6,300 3,006 16.300 68.840 94 18.10 80.20 Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.

2 The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019, Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables Bank 5,600 6,400 900 12,400 8,200 Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account: Balance as at 1 January 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) Add: Net Profit Cash introduced 72,240 (19.700) Less: Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft TOTAL LIABILITIES TOTAL LIABILITIES AND CAPITAL 6,300 3,006 16.300 68.840 94 18.10 80.20 Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
Toturiol 12 2 Thankyou
2. The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019. Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 RM 2019 RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables 5,600 6,400 900 12,400 8,200 Bank Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account: Balance as at 1 January Add : Net Profit Cash introduced 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) 72,240 (19.700) Less : Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft 6,300 3,006 94 18.100 80,200 TOTAL LIABILITIES 16.300 68,840 TOTAL LIABILITIES AND CAPITAL Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.
Transcribed Image Text:2. The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019. Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 RM 2019 RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables 5,600 6,400 900 12,400 8,200 Bank Cash 220 200 13,120 68,840 20,800 80,200 TOTAL ASSETS Financed by: Capital account: Balance as at 1 January Add : Net Profit Cash introduced 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) 72,240 (19.700) Less : Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft 6,300 3,006 94 18.100 80,200 TOTAL LIABILITIES 16.300 68,840 TOTAL LIABILITIES AND CAPITAL Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019 cost RM5,500.
367 800 1,421,800 Nor Junita Mohd Radri Required: Prepare Statement of Cash Flow for Gangsa Perak Sdn Bhd for the ended 31 December 2019.
Transcribed Image Text:367 800 1,421,800 Nor Junita Mohd Radri Required: Prepare Statement of Cash Flow for Gangsa Perak Sdn Bhd for the ended 31 December 2019.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Planning
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS