Question 1

Haikal, a bachelor taking a first degree program in a local university faces a problem of paying his
apartment rental payment at the beginning of the semester. This is due to the PTPTN loan which
normally to be received after one month of student’s registration. It is a lesson to Haikal since this
is his second time he is facing the same problem. In order not to face the same problem again,
starting this semester Haikal has gathered all the necessary information regarding his financial
resources and expenses. Listed below is the information regarding his annual financial resources
and expenses :

ITEMS RM
Motorcycle 4 000
Trager backpack 100
Financial calculator 80
Adidas sneakers 100
PTPTN loan 5000
Savings account balance 200
Food and take-away 3200
Toiletries 450
Buying textbooks and other supply 500
(current value of textbooks and other school supply: RM600 )
Buying new clothing 150
(current value of clothing : RM1 000)
Buying celcom prepaid card 1200
Celcom prepaid card balance 80
Money owed to a relative ( due after one year) 500
Fuel and toll payments 600
Utility bills paid 240
Leisure and entertainment 200
Pocket money 4200
Tuition fees 900
Apartment rental payments 1800
Leather jacket 290
Hand-phone 280

a) Using the above information , prepare Haikal’s balance sheet for the year . What is
Haikal’s net worth ?
( 9 marks )
b) Prepare a Cash flow statement for Haikal . Does Haikal have a contribution to savings or
disavings ? (7 marks )
c) What are the possible short and long-term financial goals that Haikal needs in order to
improve his financial situation ? Suggest any two (2) goals for each type. (6
marks )
a) Using the above information, prepare Haikal's balance sheet for the year. What is Haikal's
net worth? (9 marks)

Answer :
Haikal
Balance Sheet

Asset RM liabilities and networth RM

liquid assets current liabilities

saving account 200

celcom prepaid card
balance 80

total liquid assets   280 total current liabilities 0

lifestyle assets non current liabilities

Motorcycle 4,000 PTPTN loan 5,000

trager pack 100 $ owed to a relative 500

financial calculator 80

Adidas sneakers 100

texbook and school supply 600

total non-current
Clothing 1,000 liabilities 5,500

leather jacket 290

hand-phone 280 total liabilities   5,500

total lifestyle assets 6,450 networth (6,730-5,500) 1,230

total liabilities &

total assets   6,730   networth 6,730

b) Prepare a cash flow statement for Haikal. Does Haikal have a contribution to savings or
dissavings? (7 marks)
 Answer :
Haikal
Cash Flow Statement

inflows/income RM RM

PTPTN loan 5,000

pocket money 4,200

  total inflows/income   9,200

outflows/expenses

food and take-away 3,200

Toiletries 450

texbook and school supply 500

new clothing 150

celcom prepaid card 1,200

fuel and toll payments 600

utility bills 240

leisure and entertainment 200

tuition fees 900

rental apartment 1,800

  total outflows/expenses   9,240

  contribution to dissaving   -40

c) What are the possible short and long-term financial goals that Haikal need in order to
improve his financial situation? Suggest any two(2) goal each type. ( 6 marks)

Short-term Financial Goals :

 To work part-time during semester break to get extra income

 To reduce expenses : food and take-away, toiletries, clothing, leisure and entertainment

Long-term Financial Goals :

 To invest some money from PTPTN

 To work part-time during study period