Question 2 & 3

Tom 11 SAA T 2 . Aal A. . , Heading 1 Heading 2 Heading ) Heading 4 Headings Headings Heading t o Styles Font Paragraph Po d cast tefansdal S March 2009 30 Mard 2019 340.000.000 Ordinary thans of N 2 och 610.000.000 415.000 DOO Walled fields of the sea Os Applica Os Amt Oslo Os 7call and sale 1202 Total RM100 Necat atat 50.000 DOOR Petrecer , 5% 125.000.000 20.000.000 Baaliga 1.240.000.000 rar natarate dan 125.000 DOO 200.000.000 205.000.000 10.000.000 Tode det Other (c ash bank) Tutal Ass 1.200,000000 leynathe tot Autosallafertes R 20.000.00 1 Os Apel 2014 h e ch discount for the betwe pet anderetane is 30 March 2019 : tamat 2.000.000 React pecc JOM 2010 The E n d the the period Kean has und 10 millionar 138 perte e terdeption, and the balance through profite walle fordi de D END OF QUESTION PAPER De Kan tor 2.000.000 of sandra Required po sartal W my Teduing 2 Heading 3 Paragraph Heading 4 Styles Hood Robin Trial Balance as at 31 December 2019 Debit RM'000 Credit RM'000 880,000 55,000 10,000 60,000 400,000 98,000 65,000 5,500 234,000 10,500 34.000 3,000 Turnover Inventory at 1 January 2019 Trade receivables and payables Purchases Administrative salaries Selling and distribution expenses Finance expenses Investment Cash in hand and bank Director's remuneration Auditor's fees Ordinary share capital - 400 million shares as at 1 January 2019 Retained profit as at 1 January 2019 5% debentures repayable in 10 years Interim dividend paid Debentures interest paid Tax paid Tax underprovided Plant and machinery at cost Building at cost Freehold land Accumulated depreciation as at 1 January 2019 425,000 67.000 140,000 15,000 6,000 65,000 2,000 100.000 400,000 118.000 Styles N O,000,000. However, mventory costing RM4,000,000 was damaged and it was estimated that could be sold for RM3,000,000 3. Depreciation is charged on the following asset Plant and machinery Building : 10% on cost 5% on net book value Depreciation is charged as follows: Plant and machinery (cost of sales) Building (administrative expenses) 4. The income tax expense for the year is RM70,000,000. 5. On 20 December 2019, the company proposed a final dividend of 5% 6. Land was revalued during the year. The surplus on revaluation was RM1,500,000 7. At the end of the financial year, a bonus issue of 10,000,000 units was made and the company decided to utilize the Retained Profit for this purpose. These shares are not ranked for the dividend. Required: (a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2019. (10 marks) (b) Prepare the statement of changes in equity for the year ended 31 December 2019. (5 marks) (c) Prepare the statement of Financial Position as at 31 December 2019, Tom 11 SAA T 2 . Aal A. . , Heading 1 Heading 2 Heading ) Heading 4 Headings Headings Heading t o Styles Font Paragraph Po d cast tefansdal S March 2009 30 Mard 2019 340.000.000 Ordinary thans of N 2 och 610.000.000 415.000 DOO Walled fields of the sea Os Applica Os Amt Oslo Os 7call and sale 1202 Total RM100 Necat atat 50.000 DOOR Petrecer , 5% 125.000.000 20.000.000 Baaliga 1.240.000.000 rar natarate dan 125.000 DOO 200.000.000 205.000.000 10.000.000 Tode det Other (c ash bank) Tutal Ass 1.200,000000 leynathe tot Autosallafertes R 20.000.00 1 Os Apel 2014 h e ch discount for the betwe pet anderetane is 30 March 2019 : tamat 2.000.000 React pecc JOM 2010 The E n d the the period Kean has und 10 millionar 138 perte e terdeption, and the balance through profite walle fordi de D END OF QUESTION PAPER De Kan tor 2.000.000 of sandra Required po sartal W my Teduing 2 Heading 3 Paragraph Heading 4 Styles Hood Robin Trial Balance as at 31 December 2019 Debit RM'000 Credit RM'000 880,000 55,000 10,000 60,000 400,000 98,000 65,000 5,500 234,000 10,500 34.000 3,000 Turnover Inventory at 1 January 2019 Trade receivables and payables Purchases Administrative salaries Selling and distribution expenses Finance expenses Investment Cash in hand and bank Director's remuneration Auditor's fees Ordinary share capital - 400 million shares as at 1 January 2019 Retained profit as at 1 January 2019 5% debentures repayable in 10 years Interim dividend paid Debentures interest paid Tax paid Tax underprovided Plant and machinery at cost Building at cost Freehold land Accumulated depreciation as at 1 January 2019 425,000 67.000 140,000 15,000 6,000 65,000 2,000 100.000 400,000 118.000 Styles N O,000,000. However, mventory costing RM4,000,000 was damaged and it was estimated that could be sold for RM3,000,000 3. Depreciation is charged on the following asset Plant and machinery Building : 10% on cost 5% on net book value Depreciation is charged as follows: Plant and machinery (cost of sales) Building (administrative expenses) 4. The income tax expense for the year is RM70,000,000. 5. On 20 December 2019, the company proposed a final dividend of 5% 6. Land was revalued during the year. The surplus on revaluation was RM1,500,000 7. At the end of the financial year, a bonus issue of 10,000,000 units was made and the company decided to utilize the Retained Profit for this purpose. These shares are not ranked for the dividend. Required: (a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2019. (10 marks) (b) Prepare the statement of changes in equity for the year ended 31 December 2019. (5 marks) (c) Prepare the statement of Financial Position as at 31 December 2019