Matings Review View Help Question 1 Jekor Sdn Bhd, a company located in Setiu, Terenggganu commenced its business on 1 July 2009. The company produces a type of fish cake popularly known as 'Keropok Jekor' and it is also a distributor of chilli sauce for the fish cake. The following is the trial balance of Jekor Sdn Bhd as at 30 June 2019 Debit Credit RM RM 355,000 Capital Land and buildings Plant and machinery Fumiture and fittings 253,500 75,300 27,000 Motor vehicles 64,800 Inventories as at 1 July 2018: Finished goods 16,100 Raw material 880 Accounts Receivable 13,800 Accounts Payable 15,481 Purchases: Finished goods 11,400 Raw materials 66,600 Sales 185,702 Return outwards (raw materials) 383 Carriage inwards (raw materials) 5.450 Indirect materials 2,720 Return inwards 1.100 2,300 Hire of special machine Repair of machinery 545 14.800 Office salary Factory wages Advertising expenses 25,600 3,500 EAB 10503_Financial Accounting and Reporting 1 Page 2 of 10 Water and electricity expenses 1,200 Insurance expenses 1,420 Rent received 14,100 454 Allowance for doubtful debts as at 1 July 2018 Salesmen salaries 4,040 Accumulated Depreciation as at 1 July 2018: Plant and machinery 7,530 Furniture and fittings Motor vehicles 4,880 9,785 Motor vehicles expenses 1,260 593,315 593,315 Additional information: 1. Inventories as at 30 June 2019: RM Finished goods 13,650 Raw materials 568 2. Finished goods are to be transferred to the Statement of Profit or Loss at a profit of 15% on factory cost. 3. Depreciation charged per annum are as follows: Rate Plant and machinery value 10% on cost Furniture and fittings 5% on carrying value Motor vehicle on cost 20% 4. The following expenses are to be apportioned as follows: Factory Office Water and electricity 70% 30% Insurance 60% 40% Motor vehicles 50% 50% 5. The following are the accruals and prepayment of the company as at 30 June 2019: RM Accrued water and electricity 280 Rent received in advance 373 Prepaid insurance 100 6. An allowance of doubtful debts is to be provided at 2% of net accounts receivable. Required: a Prepare the Manufacturing account for the year ended 30 June 2019 (10 marks) b Prepare Statement of profit or loss for the year ended 30 June 2019 (12 marks) Explain briefly how Manufacturing account differs from statement of profit or loss. (3 marks) 125 marked