QUESTION 3 (15 MARKS)

The comparative financial statement below shows the financial position of Fanor Sdn Bhd for the year 2018 and 2019, respectively.

Fanor Sdn Bhd Comparative Statement of Financial Position As at 31 December 2018 and 2019

Non- Current Assets:

Properties Equipment Long-term investment Total Non- Current assets Current Assets: Cash Short term investments Accounts receivable Inventories Prepaid expense Total Current Assets Total Assets Equity: Share capital Reserves Retained earnings Total Equity

Liabilities Non- current Liabilities Long term loan Total Non- Current Liabilities Current Liabilities Short term loan Accounts payable Notes payable Unearned revenues Total Current Liabilities Total Liabilities and Equity

2019 RM

3,000,770 1,319,880 1,870,000 6,190,650

5,250,755 2,200,000 2,560,376 2,564,369 125,000 12,700,500 18,891,150

3,000,000 550,000 5,800,860 9,350,860

3,450,000

3,450,000

2,755,000 1,900,660 1,000,000 434,630 6,090,290 18,891,150

2018 RM

2,750,350 2,170,130 1,500,000 6,420,480

4,440,930 1,000,670 2,234,560 1,404,260 250,000 9,330,420 15,750,900

3,000,000 675,000 3,450,110 7,125,110

5,550,000

5,550,000

1,000,790 1,575,000 - 500,000 3,075,790 15,750,900