Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls answer a,b,c under one question Question 1: Financial Statements Below are information for Xlelumakei Berhad for financial year 2020. Prepare complete income statement and

image text in transcribed

image text in transcribed

pls answer a,b,c under one question

Question 1: Financial Statements Below are information for Xlelumakei Berhad for financial year 2020. Prepare complete income statement and balance sheet of the company Item RM in '000 Sales 31500 Short-term investments 120 Accounts payable 71 Rental income 200 Depreciation 150 Machinery & Equipments (at costs) 8500 Cost of Goods Sold 10500 Interest expense 123 Ordinary shares issued 5000 Administration salaries 3070 Retained profits (1 January 2020) 8000 Marketing and selling expense 250 Office expenses 460 Accumulated depreciation (1 January 2020) 740 Inventories 570 Accounts receivables 260 Interest payable 70 30-year mortagage 4100 Dividend paid for year 2020 1000 Tax for year 2020 2500 Cash 22328 Tip: Your handwritten workings must be submitted in a PDF format, attached to this question. a) What is the operating profit for this company for financial year 2020? Format : 42940000b) How much is the net book value of the company's non-current assets? Format : 3850000c) How much is the total owners' equity at the end of the financial year 2020? Format : 43579000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions