Question 4 The following balances were extracted from the books of MineBlown Bhd, as of 30th June 2019. DR CR 80,000 60,000 80,000 7,000 50,000 5.500 4,500 16,400 35,000 1,500 Ordinary share capital of RM1 each 6% Preference share capital of RM0.50 each Office equipment at cost Accumulated depreciation - office equipment Motor vehicle at cost Accumulated depreciation - motor vehicle Rent Salaries Bank Cash Provision for bad debts Trade Receivables Trade Payables Sales Purchases Returns Inwards Returns Outwards Advertising expense Administrative expense Inventory, 1st February 2019 Retained profit blf from 2019 154 38,500 29,000 191.696 130,000 1,560 1,670 4,500 3,452 3,608 6,000 375,020 375,020 The following additional information for the year: 1. 2. 3. 4. 5. 6. Inventory on 30st June 2019 is valued at RM8,700 Selling expenses are prepaid by RM550 Advertising expenses of RM1,700 is still accrued. The provision for bad debts is fixed at 5% of debtors' balances. No bad debts are to be accounted for. The rent is prepaid RM250. The depreciation charged is 8% per annum on cost for Office Equiment ii. 15% using reducing balance method for motor vehicles. The director proposed ordinary dividend RM0.06 per share. The preference dividend was proposed. The proposed corporate tax rate is 30% 7. 8. Question 4 The following balances were extracted from the books of MineBlown Bhd, as of 30th June 2019. DR CR 80,000 60,000 80,000 7,000 50,000 5.500 4,500 16,400 35,000 1,500 Ordinary share capital of RM1 each 6% Preference share capital of RM0.50 each Office equipment at cost Accumulated depreciation - office equipment Motor vehicle at cost Accumulated depreciation - motor vehicle Rent Salaries Bank Cash Provision for bad debts Trade Receivables Trade Payables Sales Purchases Returns Inwards Returns Outwards Advertising expense Administrative expense Inventory, 1st February 2019 Retained profit blf from 2019 154 38,500 29,000 191.696 130,000 1,560 1,670 4,500 3,452 3,608 6,000 375,020 375,020 The following additional information for the year: 1. 2. 3. 4. 5. 6. Inventory on 30st June 2019 is valued at RM8,700 Selling expenses are prepaid by RM550 Advertising expenses of RM1,700 is still accrued. The provision for bad debts is fixed at 5% of debtors' balances. No bad debts are to be accounted for. The rent is prepaid RM250. The depreciation charged is 8% per annum on cost for Office Equiment ii. 15% using reducing balance method for motor vehicles. The director proposed ordinary dividend RM0.06 per share. The preference dividend was proposed. The proposed corporate tax rate is 30% 7. 8