The financial statements for KTK Enterprise are as follows: KTK Enterprise Consolidated Balance Sheet For the...
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The financial statements for KTK Enterprise are as follows: KTK Enterprise Consolidated Balance Sheet For the financial years ended December 31, 2018 and 2019 Assets Cash Account receivables Inventory Prepaid expenses Property, Plant and Equipment (PPE) Accumulated depreciation Intangible assets Total assets Liabilities and Equity Account payable Accrued expenses Long-term debt Mortgage payable Preferred stock Common stock Retained earnings Total liabilities and equity 2018 (RM'000) 73 45 51 3 437 (148) 48 509 48 15 26 0 171 197 52 509 2019 (RM'000) 48 36 57 6 347 (122) 55 427 53 11 0 147 0 197 19 427 KTK Enterprise Consolidated Statements of Income For the financial years ended December 31, 2019 Sales Cost of Goods Sold Gross Profit Operating expenses Depreciation and amortization Gain on sale of asset Net Income 3 2019 (RM'000) 657 (366) 291 (186) (38) 8 75 BWFFS033 FINANCIAL REPORTING AND STATEMENT ANALYSIS SECOND TRIMESTER 2022/2023 SESSION MATRIC NO.: a) Prepare a statement of cash flows using indirect method for the year ended December 31, Year 2019 based on the provided data above. b) Convert the cash flows from operation in (a) to the direct method. (10 marks) (10 marks) The financial statements for KTK Enterprise are as follows: KTK Enterprise Consolidated Balance Sheet For the financial years ended December 31, 2018 and 2019 Assets Cash Account receivables Inventory Prepaid expenses Property, Plant and Equipment (PPE) Accumulated depreciation Intangible assets Total assets Liabilities and Equity Account payable Accrued expenses Long-term debt Mortgage payable Preferred stock Common stock Retained earnings Total liabilities and equity 2018 (RM'000) 73 45 51 3 437 (148) 48 509 48 15 26 0 171 197 52 509 2019 (RM'000) 48 36 57 6 347 (122) 55 427 53 11 0 147 0 197 19 427 KTK Enterprise Consolidated Statements of Income For the financial years ended December 31, 2019 Sales Cost of Goods Sold Gross Profit Operating expenses Depreciation and amortization Gain on sale of asset Net Income 3 2019 (RM'000) 657 (366) 291 (186) (38) 8 75 BWFFS033 FINANCIAL REPORTING AND STATEMENT ANALYSIS SECOND TRIMESTER 2022/2023 SESSION MATRIC NO.: a) Prepare a statement of cash flows using indirect method for the year ended December 31, Year 2019 based on the provided data above. b) Convert the cash flows from operation in (a) to the direct method. (10 marks) (10 marks)
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Answer rating: 100% (QA)
To prepare the statement of cash flows using the indirect method for the year ended December 31 2019 based on the provided data above we will start with the net income and adjust it for noncash expens... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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