National Foods Pvt. Ltd. is a company producing canned foods. Below are the company’s financial statements: National...

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Accounting

National Foods Pvt. Ltd. is a company producing canned foods.Below are the company’s financial statements:
National Foods Pvt. Ltd.
Statement of Comprehensive Income for the yearended 31 August 2018
RM
Sales revenue
2,700,000
Cost of goods sold
(900,000)
Gross profit
1800,000
Operating Expenses
Administration & Distribution expenses
(195,000)
Depreciation expense
(30,000)
Other operating expense
(150,000)
Interest expense
(135,000)
Net profit before tax
1,290,000
Income tax expense
(240,000)
Net income
1,050,000
National Foods Pvt. Ltd.
Statement of Financial Position as at 31 August 2018
2017
2018
RM
RM
RM
RM
Non-current Assets
Van
600,000
900,000
(-)Accumulated depreciation
(120,000)
480,000
(150,000)
750,000
Current Assets
Bank
825,000
1,186,500
Debtors
300,000
150,000
Inventory
75,000
90,000
Total Assets
1,680,000
2,176,500
Non-current Liabilities
Loan
480,000
630,000
Current Liabilities
Creditors
90,000
135,000
Operating expenses payable
31,500
33,000
Shareholders’ Equity
Ordinary share capital
478,500
478,500
Retained earnings
600,000
900,000
Total Liabilities & Equities
1,680,000
2,176,500
Required:
Prepare the statement of cash flows for Hasniza Foods Pte. Ltd.for the year ended 31 August 2018 using the directmethod. (Show all calculations).

Answer & Explanation Solved by verified expert

3.7 Ratings (610 Votes)

STATEMENT OF CASH FLOWS DIRECT METHOD Cash flows from operating activities Receipts from customers 2850000 Payment for purchases 870000 Payment for operating expenses 3150019500015000033000 343500 Interest paid 135000 Income tax paid 240000 Net cash from See Answer

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National Foods Pvt. Ltd.
Statement of Comprehensive Income for the yearended 31 August 2018
					RM
	Sales revenue				2,700,000
	Cost of goods sold				(900,000)
	Gross profit				1800,000
	Operating Expenses Administration & Distribution expenses				(195,000)
	Depreciation expense				(30,000)
	Other operating expense				(150,000)
	Interest expense				(135,000)
	Net profit before tax				1,290,000
	Income tax expense				(240,000)
	Net income				1,050,000

National Foods Pvt. Ltd.
Statement of Financial Position as at 31 August 2018
		2017		2018
		RM	RM	RM		RM
Non-current Assets
Van		600,000		900,000
(-)Accumulated depreciation		(120,000)	480,000	(150,000)		750,000
Current Assets
Bank			825,000			1,186,500
Debtors			300,000			150,000
Inventory			75,000			90,000
Total Assets			1,680,000			2,176,500

Non-current Liabilities
Loan			480,000			630,000
Current Liabilities
Creditors			90,000			135,000
Operating expenses payable			31,500			33,000

Shareholders’ Equity
Ordinary share capital			478,500			478,500
Retained earnings			600,000			900,000
Total Liabilities & Equities			1,680,000			2,176,500