Note: Financial statements for publication should be prepared in accordance with IAS 1 Presentation of Financial Statements.

Sejahtera Bhd has an authorized share capital of RM2,000,000 divided into 3,000,000 equity shares of 50cents and 500,000 12% redeemable preference shares of RM1. The following trial balance has been extracted from accounting records at 30 June 2020. Debit RM 000 Credit RM'000 500 200 400 368 860 1,450 440 40 444 230 380 6,590 4,304 50cents equity shares (paid) 12% RM1 preference shares (paid) 8% debentures Retained earnings 1 July 2019 Freehold land and buildings (cost] Plant and machinery (cost) Motor vehicle (cost) Accumulated depreciation at 1 July 2019 Freehold buildings Plant and machinery Motor vehicles Inventory at 1 July 2019 Sales Purchases Final dividends for year end 30 June 2019: Equity Interim dividends for the year end 30 June 2020 Preference Equity Debenture interest Wages and salaries Light and heat Irrecoverable debt expense Other administration expenses Receivables Payables Allowance for receivables Corporation tax paid Bank 40 12 16 16 508 62 30 196 578 390 20 112 168 RM9,182 RM9 182 The following information needs to be dealt with before the financial statements can be completed: (1) Inventories at 30 June 2020 were valued at cost RM440,000 (2) Other administration expenses Include RM13,000 paid in respect of a machinery maintenance contract for the 12 months ending 30 November 2020. Light and heat does not include an invoke of RM12,000 for electricity for the quarter ending 3 July 2020, which was paid in August 2020. (3) The directors wish to provide for: any debenture interest due (10 directors, bonuses of RM24,000 in the year's depreciation (4) The allowance for receivables required at 30 June 2020 is RM24,000 (5) During the year ended 30 June 2020, a customer whose receivables balance of RM9,000 had been written off in previous years as irrecoverable paid the full amount owing. The company credited this amount to receivables (6) The debentures have been in issue for some years (7) Corporation tax of RM256,000 is to be charged on the profits (8) During the year a piece of machinery, which had originally cost RM320,000 and had been owned by the company for 6 years, was scrapped. Proceeds received were RM40,000. These have been incorrectly credited to the plant and machinery cost account (9) The buildings element of the freehold land and buildings cost is RM200,000 Depreciation methods and rates are as follows: Building Straight line over 50 years Plant and machinery 10% straight-line Motor vehicle 33% reducing balance Required: Prepare the financial statements for Sejahtera Bbc for the year ended 30 June 2020 according to the Principles set out under IAS 1. Your statements should include: 1) Statement of changes in equity for the year ended Note to financial Statement a) Property, plant and Equipment b) Revaluation of non-current assets c) Expense by functions d) Receivables and Payables e) Finance Cast Sejahtera Bhd has an authorized share capital of RM2,000,000 divided into 3,000,000 equity shares of 50cents and 500,000 12% redeemable preference shares of RM1. The following trial balance has been extracted from accounting records at 30 June 2020. Debit RM 000 Credit RM'000 500 200 400 368 860 1,450 440 40 444 230 380 6,590 4,304 50cents equity shares (paid) 12% RM1 preference shares (paid) 8% debentures Retained earnings 1 July 2019 Freehold land and buildings (cost] Plant and machinery (cost) Motor vehicle (cost) Accumulated depreciation at 1 July 2019 Freehold buildings Plant and machinery Motor vehicles Inventory at 1 July 2019 Sales Purchases Final dividends for year end 30 June 2019: Equity Interim dividends for the year end 30 June 2020 Preference Equity Debenture interest Wages and salaries Light and heat Irrecoverable debt expense Other administration expenses Receivables Payables Allowance for receivables Corporation tax paid Bank 40 12 16 16 508 62 30 196 578 390 20 112 168 RM9,182 RM9 182 The following information needs to be dealt with before the financial statements can be completed: (1) Inventories at 30 June 2020 were valued at cost RM440,000 (2) Other administration expenses Include RM13,000 paid in respect of a machinery maintenance contract for the 12 months ending 30 November 2020. Light and heat does not include an invoke of RM12,000 for electricity for the quarter ending 3 July 2020, which was paid in August 2020. (3) The directors wish to provide for: any debenture interest due (10 directors, bonuses of RM24,000 in the year's depreciation (4) The allowance for receivables required at 30 June 2020 is RM24,000 (5) During the year ended 30 June 2020, a customer whose receivables balance of RM9,000 had been written off in previous years as irrecoverable paid the full amount owing. The company credited this amount to receivables (6) The debentures have been in issue for some years (7) Corporation tax of RM256,000 is to be charged on the profits (8) During the year a piece of machinery, which had originally cost RM320,000 and had been owned by the company for 6 years, was scrapped. Proceeds received were RM40,000. These have been incorrectly credited to the plant and machinery cost account (9) The buildings element of the freehold land and buildings cost is RM200,000 Depreciation methods and rates are as follows: Building Straight line over 50 years Plant and machinery 10% straight-line Motor vehicle 33% reducing balance Required: Prepare the financial statements for Sejahtera Bbc for the year ended 30 June 2020 according to the Principles set out under IAS 1. Your statements should include: 1) Statement of changes in equity for the year ended Note to financial Statement a) Property, plant and Equipment b) Revaluation of non-current assets c) Expense by functions d) Receivables and Payables e) Finance Cast