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POLITEKNIK TUANKU SULTANAH BAHIYAH

KULIM HI-TECH PACK 09000 KULIM KEDAH DARUL AMAN TEL: 04-40333333 WEBSITE: www.ptsb.edu.my

PRESENTATION

NAME & MATRIX NO.: NOR FARAHA NADIA BINTI RAMLAN (16DAT08F1072) NURLIANA BINTI ROSLI (16DAT08F1033) NOORHAZLIN BINTI TAHARIM (16DAT08F1071) WAN NOOR ZAHIDAH BINTI WAN MOHD ZAWAWI (16DAT08F1035) MOHAMAD ZULFADLI BIN NORMAN (16DAT08F1008) VASANT A/L CHUAN (16DAT08F1016) MUHD ZAMIR BIN ZAINAL (16PAT10F1006) LECTURERS NAME: MADAM HASMIDA BINTI MOHAMAD HASSAN

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

QUESTION 1

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

The summarised accounts of Cinderella Bhd for the year ended 31 December 2006 and year ended 31 December 2007 are given below : Balance Sheet as at 31 December : 2006 Non-current Assets Land and building (cost) Accumulated depreciation building Plant and machinery (cost) Accumulated depreciation plant and machinery Investment (RM)000 90 000 (10 000) 104 000 (52 000) 52 000 2007 (RM)000 149 500 (12 500) 108 000 (48 000) 48 000

Current assets Inventories Trade receivables Cash in hand Tax recoverable Shareholder Equity - Issued and paid up capital Ordinary share of RM1.00 each Preference share of RM1.00 each 60 000 40 000 90 000 44 000 30 800 36 200 100 500 251 600 33 600 24 800 5 000 Nil 308 400

Reserves Share premium General reserve Profit and loss balance Nil 20 000 33 600 11 000 28 000 39 400

Non-current liabilities Debentures 20 000 16 000

Current liabilities Bank overdraft Trade payables Tax payable Dividend payable 48 000 24 000 Nil 6 000 251 600 42 000 27 600 400 10 000 308 400

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Cinderella Bhd Income Statement for the year ended 31 December 2007 RM000 Revenue (Sales) Cost of sales Gross Profit RM000 358 500 (180 000) 178 500

Expenses : Operating expenses Loss on sale of plant (137 800) (2000) 38 700

Gain on sale of investment Income from investment Interest Profit before taxation Taxation Profit after taxation Profit and balance b/f

3 000 4 100 (1 500) 44 300 (12 000) 32 300 33 600 65 900

Transfer to general reserves Interim preference dividend Interim ordinary dividend Proposed preference dividend Proposed ordinary dividend

8 000 3 400 5 100 3 400 6 600 (26 500) 39 400

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Additional information :

1. Operating expenses include : Depreciaton charge on : Land and building Plant and machinery RM 2 500 000 RM 14 000 000

Plant disposal account RM000 Plant at cost 20 000 Accumulated depreciation Income statement 20 000 RM000 18 000 2 000 20 000

2. There was no disposal of land and building during the year. 3. Investments costing RM 10 000 000 were sold and additional investments were bought. 4. Preference share were issued at par value.

You are required to prepare the cash flow statement of Cinderella Bhd for the year ended 31 December 2007 using the indirect method.

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

ANSWER

Adjustment

Plant and machinery account RM 000 Balance b/d Bank 104000 24000 128000 Disposal Balance c/d RM 000 20000 108000 128000

Investment account RM 000 Balance b/d Bank 52000 6000 50000 Disposal Balance c/d RM 000 10000 48000 50000

Tax account RM 000 Balance b/d Cash Balance c/d 500 11100 400 12000 Balance b/d Profit and Loss Balance c/d RM 000 12000 12000

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Cinderella Bhd Cash Flow Statement for the year ended 31 December 2007 RM 000 EBIT (+) NCI Depreciation of plant and machinery Depreciation of building Non Operating Expenses : Loss on disposal of plant and machinery Interest expenses Investment expenses Profit on investment 2000 1500 (4100) (3000) 12900 57200 OPERATING ACTIVITIES : Debtor Creditor Inventories 11400 3600 (2800) 12200 (-) Tax Interest Net Cash from Operating Activities (11100) (1500) (400) 56800 14000 2500 RM 000 44300

INVESTING ACTIVITIES : Purchase - land and building Purchase - plant and machinery Purchase investment Cash from investment sale Investment income Net Cash from Investing Activities (59500) (24000) (6000) 13000 4100 (72400)

FINANCING ACTIVITIES : Issue share - ordinary share - preference share Debenture Proposed dividend 30000 4000 (4000) (14500)

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Share Premium Net Cash from Financing Activities Cash inflow / outflow Bank b/d Bank c/d

11000 26500 10900 (47900) (37000)

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

QUESTION 2

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Below are the comparative Balance Sheet of Keranji Bhd. asat 31 December 2008 and 2007 and the Income Statement for the year ended 31 December 2008. Balance Sheet as at 31 December 2007 and 2008 2007 000,000 Cash and cash equivalents 6 Trade receivables (debtors) 21 Inventory 20 Investments 80 Vehicle (at cost) 130 Accumulates depreciation (52) 205 Trade payable Interest payable Taxes payable Long term loans Share capital Retained earnings 13 7 7 18 120 17 205

2008 000,000 43 23 26 100 195 (79) 308 18 8 10 26 152 68 308

Income Statement for the year ended 31 December 2008 Sales revenue Cost of sales Gross profit Investment income interest received Gain on disposal of vehicle Depreciation Administration and selling expenses Operating profit before interest Interest expenses Profit after deducting interest Taxation Profit 000,000 320 143 117 5 7 10 (13) 137 (20) 117 (35) 82

Additional Information: 1. During the year ended 31 December 2008, the company acquired vehicle costing RM90,000,000. 2. The dividend paid during the year ended 31 December 2008 was RM31,000,000. 3. During the year ended 31 December 2008, vehicle costing RM25,000,000 (book value RM13,000,000) was sold for RM20,000,000 REQUIRED Prepare the Cash Flow Statement for the year ended 31 December 2008 (using indirect method)

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Keranji Limited Cash Flow Statement for the year ended 31 December 2008 000,000 EBIT (Earning Before Income Tax) Adjustment - Non Cash Item Depreciation 39 Interest Expenses 20 Gain on sold vehicle (7) Interest Income (5)

000,000 117

47 164 Operating Activities Inventory Debtor Creditor ( - ) Tax Interest Expenses Net cash inflow from operating activities Investment Activities Investment Investment Income Purchase Vehicle Cash from vehicle disposal Net cash inflow from investment activities Financing Activities Share capital Loan Premium Propose dividend Net cash inflow from financing activities Net cash inflow/outflow ( + ) Cash b/d Cash c/d (6) (2) 5 (3) (32) (19) (54) 110 (20) 5 (90) 20 (85) 32 8 3 (31) 12 37 6 43

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja

Interest 000,000 Cash Balance c/d 19 8 27 Balance b/d Profit and Loss

000,000 7 20 27

Tax 000,000 Cash Balance c/d 32 10 47 Balance b/d Profit and Loss

000,000 7 35 42

Vehicle 000,000 Balance b/d Cash 130 9 220 Disposal Balance c/d

000,000 25 195 220

Hak Milik Sant Sahabat dan Kawan-Kawan. Dibenarkan untuk tujuan pembelajaran sahaja