Ohsem Berhad is a company that sells nutrition supplements and health care products. The financial statements of
Question:
Ohsem Berhad is a company that sells nutrition supplements and health care products. The financial statements of the company for the year ended 30 June 2016 is shown below:
Statement of Profit or Loss for the year ended 30 June 2016 | |
RM | |
Sales | 854,400 |
Cost of sales | 225,500 |
Gross profit | 628,900 |
Salaries expense | (249,700) |
Finance costs | (3,500) |
Other expenses | (253,600) |
Profit before tax | 122,100 |
Income tax | (62,300) |
Profit for the year | 59,800 |
Statement of Financial Position as at 30 June | |||
2015 | 2016 | ||
RM | RM | ||
Intangible assets | 145,000 | 138,000 | |
Property, plant and equipment | 424,800 | 547,400 | |
Inventories | 56,400 | 43,800 | |
Trade receivables | 106,300 | 144,600 | |
Cash and cash equivalents | 67,700 | 91,900 | |
Total assets | 800,200 | 965,700 | |
Share capital | 300,000 | 350,000 | |
Share premium | 42,000 | 86,000 | |
Retained earnings | 298,400 | 323,200 | |
Total equity | 640,400 | 759,200 | |
10% bonds payable | - | 70,000 | |
Trade payable | 63,900 | 40,800 | |
Accruals | 41,600 | 33,400 | |
Tax payable | 54,300 | 62,300 | |
Total liabilities | 159,800 | 206,500 | |
Total equity and liabilities | 800,200 | 965,700 |
Additional information:
- All sales are on credit.
- Included in other expenses are:
RM
Depreciation of property, plant and equipment 61,500
Impairment of intangibles 7,000
- There are no disposal of property, plant and equipment during the year.
- The company paid dividends to its shareholders amounted to RM35,000.
- The 10% bonds payable were issued on 1 January 2016 at par.
Required:
Prepare a Statement of Cash Flows for Ohsem Berhad for the year ended 30 June 2016 in accordance with MFRS 107 Statement of Cash Flows using the indirect method.
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson