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help with this please.. QUESTION 4 Makmur Berhad was formed on 1 January 2009. The company reported the following summarized Statement of Financial Position: Makmur

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QUESTION 4 Makmur Berhad was formed on 1 January 2009. The company reported the following summarized Statement of Financial Position: Makmur Berhad Statement of Financial Position as at, 1 January 2019 RM Assets Cash 400,000 Other assets 1,000,000 Total assets 1,400,000 Liabilities and Equity Equity Ordinary share capital, 110,000 issued 550,000 8% Preference share capital, 70,000 issued 175,000 Retained earnings 540,000 1,265,000 Liabilities Current liabilities 135,000 Total liabilities and equity 1,400,000 The following transactions occurred during the year ended 31 December 2019 but have yet to be recorded: 1) Obtained a loan amounting RM45,000 from Borneo Bank Berhad at 10% per year on 1 February 2019. 2) On 1 March 2019, offered right issue to existing ordinary shareholders, with the right to purchase one share for every 2 shares held, at RM3.20. Market price on the date was RM5.50. All offers were taken up. 3) On 1 July 2019, the company issued 10% RM100,000 par value bonds payable for RM96,000. The bonds pay interest on 31 December annually and will mature in ten years. The annual market rate on the date of issue is 12%. 4) On 1 August 2019, the company paid interim preference dividend of RM7,000. 5) Issued bonus shares (ordinary shares) on 1 September 2019, at a ratio of one for every twenty shares held. Market value per share was RM6.00. The retained earnings account is utilised for this purpose. 6) On 31 December, declared total cash dividend of RM75,000 to both the ordinary and preference shareholders. The dividend has been approved during the annual general meeting and will be paid on 15 January 2020. 7) Profit for the year was RM115,000. 8) Accrued interest on bank loan at, 31 December 2019. 9) Paid interest on bonds payable at, 31 December 2019. Required: 1. Journalize the above transactions, 1) to 9). (14 marks) 2. Prepare the Statement of Financial Position of Makmur Berhad as at, 31 December 2019. (4 marks) (Total: 18 marks)

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