Question 1

4% Redeemable preference shares		60,000
Ordinary shares of RM1 each		70,000
Retained earnings on 1 January 2022		13,390

On 20 December 2022, the company declared an ordinary dividend of RM1,400,000 and a dividend on redeemable preference shares of 4%

Answer:

Question 2:

Present value of Defined benefit obligation as at 1 January 2022		32,000
Tax paid	3,000
Inventories at cost as at 31 December 2022	5,430
Bank	38,420
Account receivables	40,230
Deferred tax as at 1 January 2022		800
Prepayments	4,270
Account payables		29,470

As at 31 December 2022, the taxable differences and deductible differences for all assets and liabilities (before adjustments) are RM5,060,000 and RM0 respectively. The income tax rate for the current year is 24%.

Answer: