Question 2 Flyday Berhad is a public listed manufacturing company. Its summarised financial statements for...

50.1K

Verified Solution

Question

Accounting

image

image

Question 2 Flyday Berhad is a public listed manufacturing company. Its summarised financial statements for the year ended 30 September 2022 (and 2021 comparatives) are: Statemente of nrofit or loce and ather comnrohencive income for the vaar anded an On 1 July 2022, Flyday acquired a new investment property at a cost of RM1.4 million. On this date, it also transferred one of its other investment properties to property, plant and equipment at its fair value of RM1.6 million as it became owneroccupied on that date. Flyday adopts the fair value model for its investment properties. Flyday also has a policy of revaluing its other properties (included as property, plant and equipment) to market value at the end of each year. Other comprehensive income and the revaluation reserve both relate to these properties. Depreciation of property, plant and equipment during the year was RM1.5 million. An item of plant with a carrying amount of RM2.3 million was sold for RM1.8 million during September 2022. Required: Prepare the statement of cash flows for Flyday Berhad for the year ended 30 September 2022 in accordance with MFRS107 Statement of Cash Flows using the indirect method

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students