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 December2019 and 2020.ShafNita Sdn. Bhd.Statement of Financial Position as at 31 December20192020RMRMRMRMNon Current AssetsBuildingFixtures less accumulated depreciationVan less accumulated depreciation100,000100,0004,00014,8003,6007,840111,440118,800Current Asset11,20024,800InventoryTrade account receivable12,80016,4001,800440BankCash40026,24041,600Total assets137,680160,400Finance by:Capital account:Balance at 1 January| Add: Net profit for the year74,080105,08070,40042,320Cash introduced20,000144,480167,400|Less: Drawings(39,400)105,080(43,200)124,200Non Current LiabilitiesLoan (repayable in 10 years time)20,00030,000Current LiablitiesAccount Payable12,6006,012Bank overdraft188Retained earnings32,60036,200Total liabilities and equity137,680160,400

Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable…

Answered: Van bought in 2020 cost RM11,000.…

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

Section: Chapter Questions

Problem 1Q

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Question

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

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