Construct a cash flow statement for a financial year ended 31 December 2018. Encik Aiman and Puan
Fantastic news! We've Found the answer you've been seeking!
Question:
Construct a cash flow statement for a financial year ended 31 December 2018.
Transcribed Image Text:
Encik Aiman and Puan Anis are trying to get ahead financially. Their primary financial objective is to reduce debt and achieve positive cash flow. The couple has a pre-school child and Puan Anis is a stay-at-home mom. Encik Aiman is the sole breadwinner and earns RM48,000 annually. Puan Anis is interested in returning to the labour force, however, she is concerned if child care costs and taxes would wipe out whatever she would earn. Due to the overwhelming concern of their financial situation, the couple approaches the Credit Counseling and Debt Management Agency to assist them in preparing their financial statements. The following is their financial information for 2018: ITEM AMOUNT (RM) 2,400 1,000 1,500 Annual car insurance Annual dividend received Annual education fees (self) Annual EPF contributions ASTRO bill outstanding Auto loan balance 4,400 540 100,000 Balance in savings account 1,000 12,000 BIMB credit card balance Bonus 2 months' salary 800 Honda Accord monthly instalment Cash in hand 200 Clothing (current value) 5,000 Computer (current value) 7,000 Computer loan monthly payment 300 EPF balance as at 31 December 2018 65,000 Family vacation per year 6,000 Furniture (current value) 15,000 Home and property (market value) 200,000 150,000 150.000 800 150 Home mortgage loan balance Honda Accord (market value) Housing loan monthly payment Income tax monthly payment Investment in Public Mutual Life insurance annual premium Market value of Top Gloves shares Honda Accord monthly maintenance Monthly electricity bill 50,000 1,550 10,000 350 400 Monthly groceries 500 Monthly parents' allowance 600 Monthly telephone bill 140 Total medical expenses for parents 6,000 Zakat paid for year 2018 500 Encik Aiman and Puan Anis are trying to get ahead financially. Their primary financial objective is to reduce debt and achieve positive cash flow. The couple has a pre-school child and Puan Anis is a stay-at-home mom. Encik Aiman is the sole breadwinner and earns RM48,000 annually. Puan Anis is interested in returning to the labour force, however, she is concerned if child care costs and taxes would wipe out whatever she would earn. Due to the overwhelming concern of their financial situation, the couple approaches the Credit Counseling and Debt Management Agency to assist them in preparing their financial statements. The following is their financial information for 2018: ITEM AMOUNT (RM) 2,400 1,000 1,500 Annual car insurance Annual dividend received Annual education fees (self) Annual EPF contributions ASTRO bill outstanding Auto loan balance 4,400 540 100,000 Balance in savings account 1,000 12,000 BIMB credit card balance Bonus 2 months' salary 800 Honda Accord monthly instalment Cash in hand 200 Clothing (current value) 5,000 Computer (current value) 7,000 Computer loan monthly payment 300 EPF balance as at 31 December 2018 65,000 Family vacation per year 6,000 Furniture (current value) 15,000 Home and property (market value) 200,000 150,000 150.000 800 150 Home mortgage loan balance Honda Accord (market value) Housing loan monthly payment Income tax monthly payment Investment in Public Mutual Life insurance annual premium Market value of Top Gloves shares Honda Accord monthly maintenance Monthly electricity bill 50,000 1,550 10,000 350 400 Monthly groceries 500 Monthly parents' allowance 600 Monthly telephone bill 140 Total medical expenses for parents 6,000 Zakat paid for year 2018 500
Expert Answer:
Answer rating: 100% (QA)
Answer Cash flow statement for the year ending 2018 Inflow of cash flow during th... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
During the year ended 31 December 2018 Pakyi Ltd invested in a convertible bond on its issue date. The bond matures four years after the issue date and at that date the bond can be converted into...
-
During its financial year ended 31 December 2017, Musonda Holdings, entered into the following transactions described below: In November 2017, having surplus cash available, Musonda Holdings invested...
-
Income statement for the financial year ended March 31for Fiona Frolickers is as follows: A. Perform horizontal analysis on the income statement. Round to closest percent (e.g 36.5% to 37%). B....
-
Why is Supplier Relationship is important to a business. explain
-
MUF Architects, LLP, billed clients for 6,000 hours of design work for the month. Actual variable overhead costs for the month were $910,000, and 6,050 hours were worked. At the beginning of the...
-
A graduate student is trying to identify the gene coding for an enzyme found in a bacterial species that degrades trinitrotoluene (TNT). The student is frustrated to find that the organism does not...
-
What the differences are between civil litigation and other types of litigation
-
The management of a chain of fast-food restaurants wants to investigate the relationship between the daily sales volume (in dollars) of a company restaurant and the number of competitor restaurants...
-
Oriental Corporation has gathered the following data on a proposed investment project ( Ignore income taxes. ) : Investment in depreciable equipment $ 6 8 0 , 0 0 0 Annual net cash flows $ 6 6 , 0 0...
-
Call center A processed 1.2 million phone orders for a total of 2.4 million items. 50% of the orders are new customers and it takes 7 minutes to set up an order for a new customer. 50% of the orders...
-
2. [Sec 11.1] Consider the function w(x, y, z) = x y + z. Describe the level surfaces corresponding to w = -24, 0, and 12 on the domain {(x, y, z) R | 10 x 10, 10 y 10, 10 z 10}. Identify...
-
Marika bought a $7,000 computer. Based on her income, Marika could afford to pay back only $700 per month. The charge on the unpaid balance is 1.5% . The U.S. Rule is used in the calculation....
-
A 36 inches wide by 80.5 inches high by 2.5 inches thick solid oak door has an interior temperature of 74 F and an exterior temperature 31 F. Assume that the thermal conductivity of the door is 0.098...
-
Cozy Inn had the following operating income, labour costs and departmental income for its lodging and restaurant departments in the year ended December 31, 2021. Department Operating Revenue Payroll...
-
A nuclear reactor core consists of 50,000 fuel rods; each fuel rod has an active length of 12 feet. The core is producing 3411 MW of thermal power. If the total heat flux hot channel factor (also...
-
The idea behind hypothesis testing is to understand what data is different compared to the expected outcome. The hypothesis is generally considered to be the null hypothesis, if this is reject then...
-
Refer to Exhibit 23-3. Is it possible for this firm to produce "too much" in the short-run?
-
Show that the peak of the black body spectrum as a function of ? is given by eq. (22.14) kg T Wmax = 2.82
-
At the end of its 2007 fiscal year, Cisco Systems, Inc., the producer of routers and other hardware and software for the telecommunications industry, reported shareholders' equity of $31,931 million....
-
Explain why firms have different price-earnings (P/E) ratios.
-
Can you explain why diversification lowers risk?
-
Identify the singularity and find the nature of solution near the singularity for van der Pol's equation: \[\ddot{x}-\alpha\left(1-x^{2} ight) \dot{x}+x=0\]
-
The phase-plane equation of a single-degree-of-freedom system is given by \[\frac{d y}{d x}=\frac{-c y-\left(x-0.1 x^{3} ight)}{y}\] Investigate the nature of singularity at \((x, y)=(0,0)\) for...
-
Solve Problem 13.30 for a simple pendulum: \[\ddot{\theta}+\omega_{n}^{2} \sin \theta=0\] Data From Problem 13.30:- Identify the singularity and investigate the nature of solution near the...
Study smarter with the SolutionInn App