(a) (b) (c) (d) Construct a Pro-forma Statement of Comprehensive Income for 2021. [Bina sebuah Penyata...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
(a) (b) (c) (d) Construct a Pro-forma Statement of Comprehensive Income for 2021. [Bina sebuah Penyata Pendapatan Pro-forma untuk 2021.J Construct a Pro-forma Statement of Financial Position for 2021. [Bina Lembaran Imbangan Pro-forma untuk 2021.] (5 Marks/ Markah) (14 Marks/ Markah) Solve for the value of firm's financing requirements of 2021 through proper calculation. [Selesaikan untuk nilai keperluan pembiayaan firma untuk 2021 melalui jalan pengiraan yang bersesuaian.] Solve for the value of discretionary financing needs (DFN). [Selesaikan untuk nilai keperluan pembiayaan bukan mandatori (DFN).] (3 Marks/ Markah) (3 Marks/ Markah) Eastern Food Berhad is evaluating its financing requirements for the coming year. Its Chief Financial Officer (CFO) predicts that the firm's operating expenses, current assets, net fixed assets and current liabilities will remain at their current proportion of sales. [Eastern Food Berhad sedang menilai keperluan pembiayaannya untuk tahun akan datang. Ketua Pegawai Kewangannya (CFO) meramalkan bahawa perbelanjaan operasi firma, aset semasa, aset tetap bersih dan liabiliti semasa akan kekal pada bahagian jualan semasa mereka.] Last year Eastern Food Berhad had RM12 million in sales and a net income of RM1.2 million. The firm anticipates the next year's sales will reach RM15 million, with net income rising to RM2 million. Given its present high rate of growth, the firm retains all its earnings to help defray the cost of new investments. The firm's balance sheet for 2020 is as below: [Tahun lepas Eastern Food Berhad mempunyai jualan RM12 juta dan pendapatan bersih RM1.2 juta. Firma itu menjangkakan jualan tahun depan akan mencecah RM15 juta, dengan pendapatan bersih meningkat kepada RM2 juta. Memandangkan kadar pertumbuhannya yang tinggi sekarang, firma itu mengekalkan semua pendapatannya untuk membantu membiayai kos pelaburan baharu. Kunci kira-kira firma untuk 2020 adalah seperti di bawah:] Table 3: Statement of Balance Sheet as at 31st December 2020 of Eastern Food Berhad. [Jadual 3: Penyata Imbangan Duga pada 31hb. Disember 2020 untuk Eastern Food Berhad.] Assets: Current assets Net fixed assets Total Assets Liabilities: Account payable Long-term debt Total Liabilities Stockholders' Equity: Common stock Paid-in capital Retained earnings Common equity Eastern Food Berhad Balance Sheet as at 31.12.2020 RM 3,000,000 6,000,000 9,000,000 3,000,000 2,000,000 5,000,000 % OF SALES 25% 50% 25% NAª 1,000,000 1,800,000 1,200,000 4,000,000 Total Liabilities and Stockholders' Equity 9,000,000 "Not applicable. This figure does not vary directly with sales and is assumed to remain constant for purposes of making next year's forecast of financing requirements. Projected common stock dividend is 25% of projected net income. NAª NAª (a) (b) (c) (d) Construct a Pro-forma Statement of Comprehensive Income for 2021. [Bina sebuah Penyata Pendapatan Pro-forma untuk 2021.J Construct a Pro-forma Statement of Financial Position for 2021. [Bina Lembaran Imbangan Pro-forma untuk 2021.] (5 Marks/ Markah) (14 Marks/ Markah) Solve for the value of firm's financing requirements of 2021 through proper calculation. [Selesaikan untuk nilai keperluan pembiayaan firma untuk 2021 melalui jalan pengiraan yang bersesuaian.] Solve for the value of discretionary financing needs (DFN). [Selesaikan untuk nilai keperluan pembiayaan bukan mandatori (DFN).] (3 Marks/ Markah) (3 Marks/ Markah) Eastern Food Berhad is evaluating its financing requirements for the coming year. Its Chief Financial Officer (CFO) predicts that the firm's operating expenses, current assets, net fixed assets and current liabilities will remain at their current proportion of sales. [Eastern Food Berhad sedang menilai keperluan pembiayaannya untuk tahun akan datang. Ketua Pegawai Kewangannya (CFO) meramalkan bahawa perbelanjaan operasi firma, aset semasa, aset tetap bersih dan liabiliti semasa akan kekal pada bahagian jualan semasa mereka.] Last year Eastern Food Berhad had RM12 million in sales and a net income of RM1.2 million. The firm anticipates the next year's sales will reach RM15 million, with net income rising to RM2 million. Given its present high rate of growth, the firm retains all its earnings to help defray the cost of new investments. The firm's balance sheet for 2020 is as below: [Tahun lepas Eastern Food Berhad mempunyai jualan RM12 juta dan pendapatan bersih RM1.2 juta. Firma itu menjangkakan jualan tahun depan akan mencecah RM15 juta, dengan pendapatan bersih meningkat kepada RM2 juta. Memandangkan kadar pertumbuhannya yang tinggi sekarang, firma itu mengekalkan semua pendapatannya untuk membantu membiayai kos pelaburan baharu. Kunci kira-kira firma untuk 2020 adalah seperti di bawah:] Table 3: Statement of Balance Sheet as at 31st December 2020 of Eastern Food Berhad. [Jadual 3: Penyata Imbangan Duga pada 31hb. Disember 2020 untuk Eastern Food Berhad.] Assets: Current assets Net fixed assets Total Assets Liabilities: Account payable Long-term debt Total Liabilities Stockholders' Equity: Common stock Paid-in capital Retained earnings Common equity Eastern Food Berhad Balance Sheet as at 31.12.2020 RM 3,000,000 6,000,000 9,000,000 3,000,000 2,000,000 5,000,000 % OF SALES 25% 50% 25% NAª 1,000,000 1,800,000 1,200,000 4,000,000 Total Liabilities and Stockholders' Equity 9,000,000 "Not applicable. This figure does not vary directly with sales and is assumed to remain constant for purposes of making next year's forecast of financing requirements. Projected common stock dividend is 25% of projected net income. NAª NAª
Expert Answer:
Answer rating: 100% (QA)
Broforma Statement of comprehensive Income for 2021 Particulars Absolute figure of sales in RM 15000... View the full answer
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
Posted Date:
Students also viewed these accounting questions
-
The statement of comprehensive income for the years ended December 31, 2006 and 2007, plus selected items from comparative balance sheets of McClain Wholesalers, Inc., are as follows: There were no...
-
The statement of comprehensive income for Lancaster Company was as follows: Lancaster Company Statement of Comprehensive Income For the Year Ended December 31, 2008 Net income ......................
-
The statement of comprehensive income for the years ended December 31, 2008 and 2009, plus selected items from comparative balance sheets of Johnson Wholesalers Inc. are as follows: There were no...
-
Amigo Software, Inc. has total assets of $800,000, current liabilities of $150,000, and long-term liabilities of $120,000. There is $65,000 in preferred stock outstanding Thirty thousand shares of...
-
Sarah was contemplating making a contribution to her traditional individual retirement account for 2017. She determined that she would contribute $5,000 to her IRA and she deducted $5,000 for the...
-
A confidence interval for a mean response and a prediction interval for an individual response are to be constructed from the same data. True or false: The number of degrees of freedom for the...
-
A municipality expects to use a landfill evenly throughout the 25 years from January 1, 2017, to December 31, 2041. Upon closing the landfill it estimates that it will incur closing costs of...
-
The details of a project are: Equity raised for the project: 60 lakhs Debt taken: 30 lakh Cost of debt (ka): 8% Cost of equity (ke): 18% Calculate the cost of capital for the project.
-
Gail and her husband have a son when her husband dies unexpectedly on January 1, 2022. Gail asks you, her tax professional, how her husbands death affects her taxes. Determine Gails income tax each...
-
A manufacturing company is interested in making a product structure tree for one of its major products. They know that product A is made up of assemblies B, C, and D. Each B assembly is made up of...
-
Identify a company (either a local business or a national firm) that you believe has a strong customer orientation. Briefly describe why you believe so as you identify specific marketing strategies...
-
On 1 / 1 / 2 0 1 5 , Tree Corp. purchased 8 0 % of the outstanding stock of Sloan Corp. for $ 5 0 0 , 0 0 0 cash. Tree Corp. determined that the fair value Sloan\'s net identifiable assets was $ 6 5...
-
Evaluate the integral. 9,2 r+8 dr
-
(c) Data Table 2 shows data taken in a free-fall experiment. Measurements were made of the distance of fall (19 at each of four precisely measured times. Complete the table. Use only the proper...
-
Seven Sages, LLC made $400,000 is sales during the month of July, of which 30% constituted cash sales. The remaining amount were sales made on credit. In August, sales on account totaled $300,000,...
-
3. Another way to measure an angle is to compare the length of the arc that the angle sweeps out on a circle to the radius of the circle. That is: radians arc length radius Using this information,...
-
If a and b are positive numbers, find the maximum value of f ( x ) = x a (9 x ) b on the interval 0 x 9.
-
Dee For has recently qualified as a pilot and is now intending to set up a private company in the near future to run small charter passenger flights from her home town. Most of her business plan has...
-
The following is an extract from Accountancy Age, 25 January 2001. A powerful and shadowy group of senior partners from the seven largest firms has emerged to move closer to edging control of...
-
A company borrows on a floating rate loan, but wishes to hedge against interest variations so swaps the interest for fixed rate. The swap should be perfectly effective and has zero fair value at...
-
Financial statement data of HiFlite Electronics Limited include the following items (dollars in thousands): {Requirements} 1. Compute HiFlite's current ratio, debt ratio, and earnings per share. Use...
-
Comparative financial statement data of Panfield Optical Mart follow: Other information: 1. Market price of Panfield common stock: \(\$ 94.38\) at December 31, 2020; and \(\$ 85.67\) at December 31,...
-
Assume that you are purchasing an investment and have decided to invest in a company in the publishing business. You have narrowed the choice to Thrifty Nickel Corp. and The Village Cryer Limited and...
Study smarter with the SolutionInn App