Question 2 Below is the Trial Balance of Han BHD as at 31 December 2019 RM RM DR CR Ordinary Shares 700 10% Preference shares 200 120 Retained profits carried forward Sales Inventory - opening 890 100 Purchase 300 Salesmen's salaries 100 45 105 50 25 5 40 50 200 7 25 Advertising Office salary Office expenses Director's salary Audit fees Share premium Deferred tax liability 10% debentures Preference dividends paid (interim) Ordinary share paid (interim) Sinking fund Debenture interest paid Trade payables Tax paid Properties (cost) Office equipment (cost) Motor vehicles (cost) Accumulated depreciation carried forward - Properties Accumulated depreciation carried forward - Office equipment Accumulated depreciation carried forward - Motor vehicles Trade receivables 50 10 40 35 1200 100 240 140 60 50 90 Bank 103 2540 2540 Additional information: Closing inventory as at 31 December 2019 was RM 150,000. Provisions are to be made for: III. iv. v. i. Accrued debenture interest of RM 10,000. i. Depreciation on properties of RM60,000, office equipment of RM20,000 and on motor vehicles of RM10,000 (all are administrative expenses). Final preference dividends (net of Tax). Final ordinary dividends of 7% (net of Tax). Tax payable on the current year's profit is calculated to be RM32,000. Income tax rate is 28% Required: Prepare the statements below according to MFRS 101, which are suitable for publication. (a) Statement of Comprehensive Income for the year ended 31 December 2019. (b) Statement of Financial Position as at 31 December 2019. Question 2 Below is the Trial Balance of Han BHD as at 31 December 2019 RM RM DR CR Ordinary Shares 700 10% Preference shares 200 120 Retained profits carried forward Sales Inventory - opening 890 100 Purchase 300 Salesmen's salaries 100 45 105 50 25 5 40 50 200 7 25 Advertising Office salary Office expenses Director's salary Audit fees Share premium Deferred tax liability 10% debentures Preference dividends paid (interim) Ordinary share paid (interim) Sinking fund Debenture interest paid Trade payables Tax paid Properties (cost) Office equipment (cost) Motor vehicles (cost) Accumulated depreciation carried forward - Properties Accumulated depreciation carried forward - Office equipment Accumulated depreciation carried forward - Motor vehicles Trade receivables 50 10 40 35 1200 100 240 140 60 50 90 Bank 103 2540 2540 Additional information: Closing inventory as at 31 December 2019 was RM 150,000. Provisions are to be made for: III. iv. v. i. Accrued debenture interest of RM 10,000. i. Depreciation on properties of RM60,000, office equipment of RM20,000 and on motor vehicles of RM10,000 (all are administrative expenses). Final preference dividends (net of Tax). Final ordinary dividends of 7% (net of Tax). Tax payable on the current year's profit is calculated to be RM32,000. Income tax rate is 28% Required: Prepare the statements below according to MFRS 101, which are suitable for publication. (a) Statement of Comprehensive Income for the year ended 31 December 2019. (b) Statement of Financial Position as at 31 December 2019
