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Given below is the trial balance of Jelai Sdn Bhd as at 31 December 2016. Dr (RM'000) Cr (RM9000) 4,000 1.000 200 800 600 50
Given below is the trial balance of Jelai Sdn Bhd as at 31 December 2016. Dr (RM'000) Cr (RM9000) 4,000 1.000 200 800 600 50 40 440 300 100 35 150 140 Sales Cost of sales Inventory Administrative expenses Distribution expenses Dividend received Interest expenses Tax paid 10% debenture (secure on land) Short-term loans Cash at bank Trade receivables Trade payables Land (cost) Property (cost) Plant and machinery Equipment (cost) Accumulated depreciation: - Property -Plant and machinery -Equipment Intangibles Ordinary shares of RM1.00 each 7.2% preference shares of RM 1.00 each Share premium Retained profit 1.1.2012 Investment in quoted equity shares at cost Interim dividends paid: -Preference -Ordinary 1.000 2.000 500 400 400 300 100 100 1.000 600 100 1.482.6 1.250 21.60 36 85726 85726 200 Additional information: a) Administration and distribution expenses include: RM (5000) Director's remuneration Audit fees 100 Depreciation: - Property - Plant - Equipment 50 100 50 b) Interest expenses are made up of: Debenture interest Interest on short-term loans a) Tax expense for the year is RM510,000. RM (5000) 30 10 b) The directors declared the final dividends on 15.2.2017 of: - Preference - Ordinary 7.2% The financial statements were approved for issue on 15 March 2017. c) On 31.12.2016, land was revalued to RM3,000,000. The directors want to incorporate this value in the accounts. The market value of the quoted shares as at 31 December 2016 was RM 1,500,000. Required: a) Prepare the Statement of Comprehensive Income for the year ended 31 December 2016 b) Prepare the Statement of Financial Position as at 31 December 2016 (Total: 20)
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