AccountDebitCredit

RM'000RM'000

Sales33,986

Inventories7,000

Cost of goods sold27,800

Operating expenses1,128

Other operating expenses90

Investment in equity securities 50

Investment in debt securities (at fair value) 46,830

Land230

Property, plant and equipment42,000

Accumulated depreciation - 7,000

Property, plant and equipment

Trade receivables account4,966

Intangible assets3,200

Cash and cash equivalents6,298

Fair value adjustment60

Equity Shares70,000

Early retained earnings13,000

Revaluation reserves360

Long term loans910

Trade accounts payable1,876

Other loans980

Warranty provisions 80

Deferred tax liability11,340

139,592139,592

Income Tax [MFRS 112]

Each group should consider the following:

1. The carrying values of plant and equipment property as at 31/12/2021 and 31/12/2022 amounted to RM5,600 and RM6,300 respectively. On both these dates also the total remaining capital allowance that can still be claimed for plant and equipment property at the end of the current year is 80% of the cost of plant and equipment property.

2. The balance of interest receivable as at 31/12/2021 and 31/12/2022 amounted to RM5,500 and RM3,500 respectively. For tax purposes, interest expense is allowed to be deducted at the time the payment is made.

3. As at 31/12/2021 and 2022, the accrued interest account balances are RM1,600 and RM1,800 respectively. For tax purposes, interest expense is allowed to be deducted at the time the payment is made.

4. Syarikat Hustle4Hasil Bhd has paid research and development costs in cash of RM4,000 at the end of the year during 31/12/2021. These costs have been capitalized and recorded as intangible assets. The company policy stipulates that intangible assets are amortized over 5 years. For tax purposes, research and development expenses are allowed to be deducted in the year the payment is made.

Each group should prepare relevant journal entries and show a clear and detailed calculation path.