Tutorial 12Submission date: 1 February 2021 before 12.00pm1. The statement of financial position of Fateh Enterprise, a sole trader, for twosuccessive years are shown below,Statement of Financial Position as 31 December20192020RMRMRMRMNon Current AssetLand and premises (cost RM52,000)Plant and machinery:(Cost RM19,000)(Cost RM25,000)44,00040,00014,25019,60059,60058,250Current AssetInventoryTrade account receivableBank6,60017,8006,30012,6007,10024.40082,65026.00085,600FINANCED BY :Capital account:Balance at 1 JanuaryAdd: Net Profit for the year42,00018,00047,00022,00060,000(13,000)47,00069,000(15,000)54,000Less:DrawingCurrent LiabilitiesTrade account payableBank overdraft22,00013,65011,60035,65011,600Non Current LiabilitiesLoan(repayable December 2022)20.00085,60082,650RepRequired:Prepare statement of cash flow for Fateh Enterprise for the year ended 31 December2020.

Name: Tutorial 12Submission date: 1 February 2021 before 12.00pm1. The stat
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Description: Tutorial 12Submission date: 1 February 2021 before 12.00pm1. The statement of financial position of Fateh Enterprise, a sole trader, for twosuccessive years are shown below,Statement of Financial Position as 31 December20192020RMRMRMRMNon Current As

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1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 RM 2020 RM RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,300 12,600 7,100 6,600 17,800 Bank 24.400 82,650 26.000 85,600 FINANCED BY: Capital account: Balance at 1 January Add: Net Profit for the year 42,000 18,000 47,000 22,000 60,000 (13,000) 47,000 69,000 (15,000) 54.000 Less:Drawing

1. The statement of financial position of Fateh Enterprise, a sole trader, for two successive years are shown below. Statement of Financial Position as 31 December 2019 RM 2020 RM RM RM Non Current Asset Land and premises (cost RM52,000) Plant and machinery: (Cost RM19,000) (Cost RM25,000) 44,000 40,000 14,250 19,600 59,600 58,250 Current Asset Inventory Trade account receivable 6,300 12,600 7,100 6,600 17,800 Bank 24.400 82,650 26.000 85,600 FINANCED BY: Capital account: Balance at 1 January Add: Net Profit for the year 42,000 18,000 47,000 22,000 60,000 (13,000) 47,000 69,000 (15,000) 54.000 Less:Drawing

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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