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Question 6 The Trial Balance of Supercomfort Sdn. Bhd. at 30 June 2020 is given as follows: DR CR RM RM 50,000 Share capital Inventory
Question 6 The Trial Balance of Supercomfort Sdn. Bhd. at 30 June 2020 is given as follows: DR CR RM RM 50,000 Share capital Inventory at 30 June 2019 38,295 Trade receivables 26,890 Trade payables 12,310 20,000 16,000 10% debentures Revaluation reserve Retained earnings Debenture interest Equipment at cost 3,940 1,000 35,000 Motor vehicles at cost 28,500 Bank 3,619 Cash in hand 180 Sales 99,500 Purchases 68,600 Returns 1,150 2,250 240 Carriage inwards Wages & salaries Rent, assessment and insurance 11,000 5,170 Discounts 1,246 640 Directors' remuneration 2,500 Accumulated depreciation: - Equipment 8,400 - Motor vehicles 10,350 223,390 223,390 The following information as at 30 June 2020 are as follows: i. Inventory at 30 June 2020 is valued at RM49,371. ii. The share capital consisted of 25,000 ordinary shares and 25,000 of 10% preference shares. The dividend on the preference shares was yet to be paid and a dividend of 20% on the ordinary shares was proposed. Rent of RM1,000 and directors' remuneration of RM2,500 are accrued. Insurance prepaid is RM300. iv. Depreciation on cost: Equipment 10%; Motor vehicles 20%. V. Transfer to General Reserve RM1,000. vi. Corporate tax is RM2,000. Required: Prepare the Statement of Comprehensive Income, and Statement of Financial Position as at 30th June 2020 for internal use. [30 marks]
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