ALL questions. (Jawab SEMUA soalan.) (TOTAL (Jumlah) 100 marks) Q1. The following is the Statement of Financial Position of MIKE Sdn. Bhd. as at 30 June 2020. (Berikut merupakan Penyata Kedudukan Kewangan bagi MIKE Sdn Bhd pada 30 Jun 2020.) RM'000 Share capital (Modal saham) 70,000,000 ordinary shares of RM1/- each (saham biasa pada RM1/- setiap satu) 70,000 20,000,000, 8% cumulative preference shares of RM1/- each)(saham keutamaan kumulatif pada RM1/- setiap satu) 20,000 90,000 Accumulated loss (Rugi terkumpul) (75,000) 15,000 Non-current assets (Aset bukan semasa) 19,946 Current assets (Aset semasa): Non trade debtors (Penghutang bukan niaga) 1,253 Trade debtors (Penghutang niaga) 3,175 Inventories (Inventori) 2,150 6,578 Current liabilities (Liabiliti semasa): Bank borrowings (secured) (Pinjaman bank (dijamin)) 10,156 Tax (Cukai) 583 Creditors (Pemiutang) 785 11,524 Working capital (Modal kerja) (4.946) 15,000 The following restructuring scheme has been approved by the shareholders and the relevant authorities: (Skim penstrukturan semula yang berikut telah diluluskan oleh pemegang saham dan pihak berkuasa yang berkaitan): i. A capital reduction involving the cancellation of 80 sen from every RM 1.00 ordinary share. (Pengurangan modal melibatkan pembatalan 80 sen bagi setiap RM1.00 saham biasa.) ii. Rights issue of 8,000,000 new ordinary shares of RM 1.00 each at par for existing ordinary shareholders on the basis of one (1) new ordinary share for every two (2) ordinary shares after the proposed capital reduction scheme. (Isu hak 8,000,000 saham biasa baru RM1.00 setiap satu pada nilai par untuk setiap pemegang saham biasa sedia ada dengan asas satu (1) saham biasa baru bagi dua (2) saham biasa selepas cadangan skim pengurangan modal.) iii. A waiver of all arrears of dividend totaling RM1,600,000 by cumulative preference shareholders and the conversion of the entire cumulative preference shares into new ordinary shares of RM1.00 each at par. (Pelupusan semua dividen tertunggak berjumlah RM1,600,000 bagi pemegang saham keutamaan kumulatif dan penukaran keseluruhan saham keutamaan kumulatif kepada saham biasa baru pada RM1.00 setiap satu pada nilai par.) iv. A debt-equity conversion scheme involving the issue of 6,000,000 new ordinary shares of RM1 each and cash payment of RM4,156,000 in full settlement of the bank borrowings. v. (Skim penukaran hutang-ekuiti melibatkan penerbitan 6,000,000 saham biasa baru pada RM1 setiap satu dan pembayaran tunai RM4,156,000 bagi pembayaran penuh pinjaman bank.) A revaluation of freehold land (included under fixed assets) with a carrying cost of RM5,000,000 to RM8,000,000 based on independent professional valuation. (Penilaian semula tanah pegangan bebas (termasuk dalam aset tetap) dengan kos pembawa RM5,000,000 kepada RM8,000,000 berpandukan penilaian profesional bebas.) Required: (Dikehendaki:) a. Prepare capital reduction and reconstruction account. (Sediakan akaun pengurangan modal dan penyusunan semula.) (5 m) b. Prepare ordinary share capital account. (Sediakan akaun modal saham biasa.) (5 m) C. Prepare Statement of Financial Position of the company as at 30 June 2020 assuming that if the above scheme is effective on that date. (Sediakan Penyata Kedudukan Kewangan syarikat pada 30 Jun 2020 dengan andaian skim di atas berkuatkuasa pada tarikh tersebut.) (15 m) Total (Jumlah) (25 m)