Construct a cash flow statement for a financial year ended 31 December 2018. Encik Aiman and Puan

  

Construct a cash flow statement for a financial year ended 31 December 2018.

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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

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Answer Cash flow statement for the year ending 2018 Inflow of cash flow during th... View the full answer