QUESTION 1 Golden Phoenix Bhd is a manufacturing company engaged in food and beverages industries. The company was listed in Bursa Malaysia since 2010 with 10,000,000 units of ordinary shares, 1,000,000 units of 5% cumulative preference shares and 1,000,000 units of 6% convertible debentures as at 31 December 2021. The trial balance of the company based on the unadjusted balances is shown below: Golden Phoenix Bhd Trial Balance as at 31 December 2021 Debit Credit RM'000 RM'000 Land (at revaluation as of 31 December 2020) 7,200 Buildings (at revaluation as of 31 December 2020) 12,500 Plant and Machineries 20,000 Office equipment 3,200 Accumulated depreciation as at 1 January 2021: -Buildings 1,563 Plant and Machineries 10,000 Office equipment 1,600 Investment properties Intangible assets Investments Tax paid Accounts receivable Inventories 3,000 6,000 3,260 2,500 685 450 Bank Ordinary shares 1,250 15,000 6% Cummulative irredeemable preference shares 2,000 Retained profits Share Based Payment Reserve Asset revaluation reserve 5% Bank loan 7% Convertible bond 11,740 680 2,800 2,000 1,500 Defined benefit liability as at 1 January 2021 586 Deferred tax 283 Accounts payable 628 Accruals 155 Interim dividend 810 Sales 38,000 Cost of sales 20,800 Administration expenses 5,360 Selling and distribution expenses 1,520 88,535 88,535