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i) Identify the items that are cash receipts (R) and payments (P). ii) Classify the cash items into cash flow from operating (O), investing (1) or financing (F) activities.

i) Identify the items that are cash receipts (R) and payments (P). ii) Classify the cash items into cash flow from operating (O), investing (1) or financing (F) activities.

FINANCIAL ACCOUNTING
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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b) Top Notch Trading Sdn. Bhd. has provided the following figures (Table 1) for the year ended 31 December 2021. i) Identify the items that are cash receipts (R) and payments (P). ii) Classify the cash items into cash flow from operating (O), investing (I) or financing (F) activities.
Transcribed Image Text:b) Top Notch Trading Sdn. Bhd. has provided the following figures (Table 1) for the year ended 31 December 2021. i) Identify the items that are cash receipts (R) and payments (P). ii) Classify the cash items into cash flow from operating (O), investing (I) or financing (F) activities.
Transaction Sales Cash received from Customers Interest expense paid during the year Dividend paid during the year Machinery purchased during the year for cash New shares issued for cash Bank account 1 January 2020 Interest payable 31 December 2020 Payments to suppliers Payment to employees Net total GST collected GST owing 31 December 2020 Sold old machinery for cash Taxes paid Table 1 Amount RM 5,700,000 5,600,000 847,000 10,000 600,000 750,000 48,000 33,000 2,500,000 1,800,000 7,700 14,300 80,000 110,000 (i) Receipt/ Payment NIL NIL NIL NIL (ii) Operating / Investing / Financing NIL NIL NIL NIL
Transcribed Image Text:Transaction Sales Cash received from Customers Interest expense paid during the year Dividend paid during the year Machinery purchased during the year for cash New shares issued for cash Bank account 1 January 2020 Interest payable 31 December 2020 Payments to suppliers Payment to employees Net total GST collected GST owing 31 December 2020 Sold old machinery for cash Taxes paid Table 1 Amount RM 5,700,000 5,600,000 847,000 10,000 600,000 750,000 48,000 33,000 2,500,000 1,800,000 7,700 14,300 80,000 110,000 (i) Receipt/ Payment NIL NIL NIL NIL (ii) Operating / Investing / Financing NIL NIL NIL NIL
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