Question
In: Accounting
QUESTION 3 (15 MARKS) The comparative financial statement below shows the financial position of Fanor Sdn...
QUESTION 3
The comparative financial statement below shows the financial position of Fanor Sdn Bhd for the year 2018 and 2019, respectively.
Fanor Sdn Bhd
Comparative Statement of Financial Position As at 31 December 2018
and 2019
Non- Current Assets:
Properties
Equipment
Long-term investment Total Non- Current assets Current
Assets:
Cash
Short term investments Accounts receivable Inventories
Prepaid expense
Total Current Assets Total Assets
Equity:
Share capital
Reserves
Retained earnings
Total Equity
Liabilities
Non- current Liabilities
Long term loan
Total Non- Current Liabilities Current Liabilities
Short term loan
Accounts payable
Notes payable
Unearned revenues
Total Current Liabilities Total Liabilities and Equity
2019 RM
3,000,770 1,319,880 1,870,000 6,190,650
5,250,755 2,200,000 2,560,376 2,564,369 125,000 12,700,500 18,891,150
3,000,000 550,000 5,800,860 9,350,860
3,450,000
3,450,000
2,755,000 1,900,660 1,000,000 434,630 6,090,290 18,891,150
2018 RM
2,750,350 2,170,130 1,500,000 6,420,480
4,440,930 1,000,670 2,234,560 1,404,260 250,000 9,330,420 15,750,900
3,000,000 675,000 3,450,110 7,125,110
5,550,000
5,550,000
1,000,790 1,575,000 - 500,000 3,075,790 15,750,900
Solutions
Expert Solution
Answer :-
comparative financial statement of Fanor Sdn Bhd for the year 2018 and 2019
| 2019 | 2018 | |
| Equity | ||
| Share Capital | 3000000 | 3000000 |
| Reserves | 550000 | 675000 |
| Retained earning | 5800860 | 3450110 |
| Ttoal Equity | 9350860 | 7125110 |
| Liabilities - | ||
| Non Current Liabilities :- | ||
| Long Term Loan | 3450000 | 5550000 |
| Toal Non Current Liabilities | 3450000 | 5550000 |
| Current Liabilites | ||
| Short term loan | 2755000 | 1000790 |
| Accounts Payable | 1900660 | 1575000 |
| Notes payable | 1000000 | 500000 |
| Unearned revenue | 434630 | 3075790 |
| Total current liabilities | 6090290 | 15750900 |
| Total Liabilities (A) | 18891150 | |
| Assets :- | ||
| Non current assests :- |
| Properties | 3000770 | 2750350 |
| Equipment | 1319880 | 2170130 |
| Long term investment | 1870000 | 1500000 |
| Total Non current assets | 6190650 | 6420480 |
| Current Assets :- | ||
| Cash | 5250755 | 4440930 |
| Short term investment | 2200000 | 1000670 |
| Account Receivable | 2560376 | 2234560 |
| inventories | 2564369 | 1404260 |
| Prepaid expenses | 125000 | 250000 |
| Total Current assets | 12700500 | 9330420 |
| Total Assests | 18891150 | 15750900 |
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