7. Condensed finandal data of Salju Ltd. follow. Salju Ltd Income Statements For the Year Ended...
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7. Condensed finandal data of Salju Ltd. follow. Salju Ltd Income Statements For the Year Ended 31 December, 2020 RM 392,780 5,000 RM Sales revenue Gain on disposal of plant assets 397,780 Less: Cost of goods sold Operating expenses, exduding depreciation Depreciation expense Income tax expense Interest expense 134,460 12,410 45,000 27,280 4,730 224,880 172,900 Net income Salju Ltd Comparative Statements of Financial Position 31 December 2020 (RM) 265,000 (47,000) 140,000 29,300 112,500 92,800 100,350 2019 (RM) 242,500 (52,000) 114,000 26,000 102,850 33,000 48.400 Assets Equipment Accumulated depreciation - equipment Long-term investments Prepaid expenses Inventory Accounts receivable Cash Total 692,950 514,750 =====%= Equity and Liabilities Share capital - ordinary Retained earnings Bonds payable Accounts payable Tax payable Total 220,000 234,450 110,000 112,000 16,500 692,950 175,000 105,450 150,000 67,300 17,000 514,750 === ===== Additional information: 1. 2. New equipment costing RM80,000 was purchased for cash during the year. Old equipment having an original cost of RM57,500 and accumulated depreciation of RM50,000 was sold for RM12,500 cash. 3. Bonds payable matured and were paid off at face value for cash. A cash dividend of RM43,900 was declared and paid during the year. 4. Required: Prepare a statement of cash flows using the indirect method. 7. Condensed finandal data of Salju Ltd. follow. Salju Ltd Income Statements For the Year Ended 31 December, 2020 RM 392,780 5,000 RM Sales revenue Gain on disposal of plant assets 397,780 Less: Cost of goods sold Operating expenses, exduding depreciation Depreciation expense Income tax expense Interest expense 134,460 12,410 45,000 27,280 4,730 224,880 172,900 Net income Salju Ltd Comparative Statements of Financial Position 31 December 2020 (RM) 265,000 (47,000) 140,000 29,300 112,500 92,800 100,350 2019 (RM) 242,500 (52,000) 114,000 26,000 102,850 33,000 48.400 Assets Equipment Accumulated depreciation - equipment Long-term investments Prepaid expenses Inventory Accounts receivable Cash Total 692,950 514,750 =====%= Equity and Liabilities Share capital - ordinary Retained earnings Bonds payable Accounts payable Tax payable Total 220,000 234,450 110,000 112,000 16,500 692,950 175,000 105,450 150,000 67,300 17,000 514,750 === ===== Additional information: 1. 2. New equipment costing RM80,000 was purchased for cash during the year. Old equipment having an original cost of RM57,500 and accumulated depreciation of RM50,000 was sold for RM12,500 cash. 3. Bonds payable matured and were paid off at face value for cash. A cash dividend of RM43,900 was declared and paid during the year. 4. Required: Prepare a statement of cash flows using the indirect method.
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Answer STATEMENT OF CASH FLOWS INDIRECT METHOD Cash flows from operating activities Net income 17290... View the full answer
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Posted Date:
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