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QUESTION 1 ST Mining Bhd is a Malaysian public limited company involved in the exploration of manganese ore in Kuala Baram. The company was
QUESTION 1 ST Mining Bhd is a Malaysian public limited company involved in the exploration of manganese ore in Kuala Baram. The company was incorporated on 1 May 2003 with authorized capital of RM150 million comprising of 90 million ordinary shares of RM1 and the remaining is in 8% redeemable preference shares of RM2 each. Given below is the unadjusted balances of the company's account for the year ended 31 March 2018: DEBIT CREDIT RM Revenue Production costs RM 71,085,000 45,880,000 Administrative expenses 3,097,500 Amortization 1,583,250 Distribution expenses 5,580,000 Debenture interest paid 180,000 Promotion and other marketing expenses 2,070,000 Income tax paid 500,000 Land (at revaluation) 6,000,000 Buildings 11,340,000 Plant and equipment 5,760,000 Motor vehicles 2,445,000 Accumulated depreciation as at 1 April 2017: Buildings Plant and equipment Motor vehicles Exploration & Evaluation 5,292,000 4,320,000 1,833,750 7,500,000 Investments Intangible assets Inventories Account receivables Bank 2,250,000 1,770,000 8,220,000 4,764,555 6,229,500 Ordinary shares 12,100,000 Retained profits (1 April 2017) 1,582,500 General reserve 6,561,000 8% Debentures 8% Redeemable preference shares @ RM2 each Accruals and provisions 3,600,000 6,000,000 Account payables 780,000 2,015,555 2 115,169,805 115,169,805
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