Item 1 - The note receivable is due in installments of RM50,000, payable on each 30 June annually. Interest is payable annually. (Bal.sheet balance for note receivable is RM 500 000) - debit side Item 2 - Note payable, RM1,000,000 of which RM250,000 is due in November 2019 (Bal.sheet balance is RM 1,000,000) - credit side Original question : Based on the above information and with reference to MFRS 101- Presentation of Financial Statements, prepare a partial statement of financial position for Anjung Berhad, showing the current asset, current liabilities and non current liabilities section that should be presented at 31 December 2018. The accounts should be properly classified between current assets, current liabilities and non-current liabilities, and appropriate disclosure note should be included to explain the classification of the item (1) and (5). MY QUESTION : How to do appropriate disclosure note in financial statement ? And how do i explain these items ?
Item 1 - The note receivable is due in installments of RM50,000, payable on each 30 June annually.
Interest is payable annually. (Bal.sheet balance for note receivable is RM 500 000) - debit side
Item 2 - Note payable, RM1,000,000 of which RM250,000 is due in November 2019 (Bal.sheet balance is RM 1,000,000) - credit side
Original question : Based on the above information and with reference to MFRS 101- Presentation of Financial
Statements, prepare a partial statement of financial position for Anjung Berhad, showing the
current asset, current liabilities and non current liabilities section that should be presented
at 31 December 2018. The accounts should be properly classified between current assets,
current liabilities and non-current liabilities, and appropriate disclosure note should be
included to explain the classification of the item (1) and (5).
MY QUESTION : How to do appropriate disclosure note in financial statement ? And how do i explain these items ?
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