The Comparative Statement of Financial Position of Smart Builder Bhd - Management Assignment Help

Assignment Task:

Task:

QUESTION 1
The comparative Statement of Financial Position of Smart Builder Bhd for the two years ended 31 December 2019 and 31 December 2020 are shown as below:
Smart Builder Bhd

Statements of Financial Position as at 31 December 2019 and 2020

31 December 2019 31 December 2020
RM RM
Freehold land and building 177,500 208,500
Plant and machinery (at cost) 72,000 90,000
Inventories 37,000 52,000
Trade receivables 43,000 44,000
Cash in bank - 66,000
Marketable securities 5,000 8,000
334,500 468,500
Ordinary share capital 115,000 185,000
General reserve 5,000 28,000
Retained profits 2,500 141,000
5% Long term loan 70,000 30,000
Bank overdraft 79,000 -
Trade payables 34,000 48,000
Tax payable - 2,000
Accumulated depreciation:
Plant and machinery 29,000 34,500
334,500 468,500

Additional information:
1. The profit before tax for the year ended 31 December 2020 was RM174,500.
2. Marketable securities were qualified as cash and cash equivalent.
3. There was a purchase of Freehold land and Plant and machinery during the year.
4. There was a repayment of Long term loan at the end of the year. The interest on the loan for the year has also been fully paid.
5. Dividend of RM4,000 was paid at the end of the year.
6. Tax expense for the year was RM9,000.
Required:
Prepare the Statement of Cash Flows for the year ended 31 December 2020 for Smart Builder Bhd using the INDIRECT METHOD in compliance with MFRS 107.

QUESTION 2
The following are the summarized Statements of Financial Position of Pro-Floor Berhad:

Pro-Floor Berhad

Statements of Financial Position as at 31 December 2019 and 2020

31 December 2020 31 December 2019
RM RM
Share capital 370,000 230,000
General reserve 56,000 10,000
Retained earnings 278,000 5,000
7% Debentures 155,000 140,000
Bank overdraft - 158,000
Accounts payable 96,000 68,000
Tax payable 4,000 -
Accumulated depreciation:
Plant and machinery 75,000 58,000
1,034,000 669,000
Freehold land 452,000 355,000
Plant and machinery 195,000 144,000
Inventories 104,000 74,000
Accounts receivable 88,000 86,000
Cash in bank 179,000 -
Short term investments 16,000 10,000
1,034,000 669,000

QUESTION 3
Magenta Digital Bhd furnishes the following Statements of Financial Position as at 30 September 2019
and 2020 as follows:

Magenta Digital Bhd

Statements of Financial Position as at 31 September 2019 and 2020

31 September 2019 31 September 2020
RM RM
Freehold land 750,000 800,000
Plant and machinery (at cost) 500,000 700,000
Building - 500,000
Inventories 300,000 240,000
Trade receivables 350,000 420,000
Cash in bank 410,000 300,000
Long term investment - 250,000
Short term investment 40,000 30,000
2,350,000 3,240,000
Ordinary share capital 700,000 700,000
10% Preference share capital 500,000 740,000
Asset revaluation reserve - 50,000
Retained profits 300,000 220,000
8% Bank loan - 250,000
8% Debentures - 500,000
Trade payables 545,000 430,000
Accrued selling and distribution expenses 15,000 20,000
Tax payables 40,000 30,000
Accumulated depreciation:
Plant and machinery 250,000 300,000
2,350,000 3,240,000

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