Financial Accounting & Reporting 2

Assignment Cash Flow Statement

QUESTION 1

Cindrella Bhd closes its accounts on 30^th June of each year. Balances of all its accounts are as follows:

	30 June Year 15 (RM000)	30 June Year 14 (RM000)
Bank	60,250	28,000
Debtors	220,000	125,000
Creditors	112,600	118,000
Inventories	55,000	83,000
Accrued expenses:
Wages and salaries	1,000	2,000
Other administrative expenses	18,000	10,000
Land	65,000	45,000
Building(cost)	136,000	112,000
Accumulated depreciation-building	28,000	24,000
Plant and machinery(cost)	114,000	100,000
Accumulated depreciation-plant	64,000	64,000
15% Preference shares	100,000	100,000
Ordinary shares	220,000	120,000
Share premium	20,000
Retained profits	63,650	54,000
Tax payable	3,000	1,000
Asset revaluation reserve	20,000

.

Additional information:

1) Statement of Comprehensive Income for the year ended 30^th June Year 15 was as follows:

	RM000	RM000
Sales		500,000
Cost of Sales		(300,000)
Gross profits		200,000
Wages and salaries	55,000
Others administrative and selling expenses	60,600
Directors remuneration	27,000
Depreciation-plant	8,000
Depreciation-building	4,000
Loss on sale of plant	5,000	(159,600)
Profit before tax		40,400
Tax		(10,000)
Net profit for the year		30,400
Dividend paid:
Preference	9,750
Ordinary	11,000	(20,750)
		9.650

2) Land was revalued to RM 65,000,000.There was no acquisition or disposal of land during the year.

3) Plant and machinery costing RM 33,000,000 were sold.

4) No buildings were sold during the year.

Required:

From the information given you are required to prepare the cash flow statement for the year ended 30 June Year 15.