Question 5 Set out below are the financial statements of Signal Sdn Bhd. You are the financial controller, faced with th

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Question 5 Set Out Below Are The Financial Statements Of Signal Sdn Bhd You Are The Financial Controller Faced With Th 1 (171.73 KiB) Viewed 12 times

Question 5 Set out below are the financial statements of Signal Sdn Bhd. You are the financial controller, faced with the task of implementing MFRS 107 Statement of Cash Flows. Signal Sdn Bhd Statement of Comprehensive Income for The Year Ended 31 December 2021 Revenue Cost of sales Gross profit Distribution costs Administrative expenses Interest received Finance costs Profit before taxation Taxation Profit for the period Other comprehensive income: Surplus on revaluation of property Total comprehensive income for the period III. Non-current liabilities Loan iv. Current liabilities Trade payables Taxation Total equity and liabilities Cost The following information is available: i. Fixtures and fittings, with an original cost of RM250,000 and a carrying amount of RM140,000, were sold for RM180,000 during e year. The following information relates to property, plant and equipment: 31.12.2021 RM'000 Accumulated depreciation Carrying amount 700 307 120 3,065 100,000 ordinary shares were issued during the year. 1,680 (560) 1,120 600 319 110 2,645 31.12.2020 RM'000 1,090 (490) 600 Signal Sdn Bhd classifies interest paid as an operating cash flow, dividends paid as a financing cash flow and interest and dividends received as investing cash flows. RM'000 9,800 (6,780) 3,020 (300) (230) 550 (185) 2,855 ***|*|| (555) 2,300 2,600 Assets Signal Sdn Bhd Statement of Financial Position As At 31 December Non-current assets Property, plant and equipment Intangible assets Investments Current assets Inventories Receivables Short-term investments Cash balances Total assets Equity and liabilities Equity Share capital Revaluation reserve Retained earnings 2021 RM'000 1,120 475 90 450 390 120 420 3,065 800 400 738 2020 RM'000 600 425 75 *****| 480 415 150 500 2,645 700 100 816 Required: Prepare a statement of cash flows for the year ended 31 December 2021 in accordance with the requirements of MFRS 107, Statement of Cash Flows, using the indirect method. (Show all relevant workings) (40 marks)