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i already post the same question with a clearer picture in the laetest post Question 1 RM'000 1,600 The following trial balance relates to Azhar
i already post the same question with a clearer picture in the laetest post
Question 1 RM'000 1,600 The following trial balance relates to Azhar Berhad, a manufacturer of car spare parts for the year ended 31 December 2019: Debit Credit RM 800 Administrative expenses 44400 Bank 2,600 Capitalised development costs 40.000 Closing inventory at 31 December 2019 40.000 Cost of sales 408.000 Over provided tax 1,600 Distribution cost 29.000 Auditor's fees 5 Equity dividend paid 13.600 Ordinary share capital 120,000 Interest on bank borrowings 400 Freehold land as at 1 January 2019 100,000 Leasehold building - at cost 100.000 Leasehold building -accumulated depreciation at 1 January 2019 20,000 Plant and equipment - at cost 153 200 Plant and equipment-accumulated depreciation at 1 January 2019 1 49,200 Investment income 5 10% Bond: Foreign loan 30,000 Research costs 17.200 Revenue 700,000 Retained earnings at 1 January 2019 49,000 10.000 Tax paid Trade payables and provisions Trade receivables 69.600 86.200 1.042.005 1,042,005 You are provided with the following additional information Included in the revenue is sales of RM15,000 taken place in January 2020 ) The freehold land was revalued at RM150,000,000. ii) Included in the capitalized development costs was RM1,000,000 incurred in relation to research expense. iv) The tax expense for the year was determined to be RM12.8 million v) Company made a rights issue of 1 share for every 20 shares held on 31 December 2019 All the shares were taken up by the shareholders. vi) The company's policy is to depreciate plant and equipment using the straight-line method on a year basis. The plant and equipment is estimated to have a usefull life of 10 years Depreciation on plant and equipment are charged to cost of sales. The freehold building is depreciated at rate of 5% per carrying value. Required: Prepare the following statements a) ) b) Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019 (16 marks) Statement of Changes in Equity for the year ended 31 December 2019. (4 marks) 4 Statement of Financial Position for the year ended 31 December 2019. (10 marks) c) The following used the parts for 11 RM RM1 1.800 Contes CODE 13.00 ty Oy west Faro Lebendo dipende 2011 at det Puterer my 200 Parco 17300 RAT YA - he went was com Cargo very held on Bomber 2013 Alth the oth. The latest ned to help yn Depreciate and come to Theodor www Pabloving Bruce or the red 2010 Question 1 RM'000 1,600 The following trial balance relates to Azhar Berhad, a manufacturer of car spare parts for the year ended 31 December 2019: Debit Credit RM 800 Administrative expenses 44400 Bank 2,600 Capitalised development costs 40.000 Closing inventory at 31 December 2019 40.000 Cost of sales 408.000 Over provided tax 1,600 Distribution cost 29.000 Auditor's fees 5 Equity dividend paid 13.600 Ordinary share capital 120,000 Interest on bank borrowings 400 Freehold land as at 1 January 2019 100,000 Leasehold building - at cost 100.000 Leasehold building -accumulated depreciation at 1 January 2019 20,000 Plant and equipment - at cost 153 200 Plant and equipment-accumulated depreciation at 1 January 2019 1 49,200 Investment income 5 10% Bond: Foreign loan 30,000 Research costs 17.200 Revenue 700,000 Retained earnings at 1 January 2019 49,000 10.000 Tax paid Trade payables and provisions Trade receivables 69.600 86.200 1.042.005 1,042,005 You are provided with the following additional information Included in the revenue is sales of RM15,000 taken place in January 2020 ) The freehold land was revalued at RM150,000,000. ii) Included in the capitalized development costs was RM1,000,000 incurred in relation to research expense. iv) The tax expense for the year was determined to be RM12.8 million v) Company made a rights issue of 1 share for every 20 shares held on 31 December 2019 All the shares were taken up by the shareholders. vi) The company's policy is to depreciate plant and equipment using the straight-line method on a year basis. The plant and equipment is estimated to have a usefull life of 10 years Depreciation on plant and equipment are charged to cost of sales. The freehold building is depreciated at rate of 5% per carrying value. Required: Prepare the following statements a) ) b) Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019 (16 marks) Statement of Changes in Equity for the year ended 31 December 2019. (4 marks) 4 Statement of Financial Position for the year ended 31 December 2019. (10 marks) c) The following used the parts for 11 RM RM1 1.800 Contes CODE 13.00 ty Oy west Faro Lebendo dipende 2011 at det Puterer my 200 Parco 17300 RAT YA - he went was com Cargo very held on Bomber 2013 Alth the oth. The latest ned to help yn Depreciate and come to Theodor www Pabloving Bruce or the red 2010Step by Step Solution
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