Question
Roslindawati Sdn Bhd is a manufacturer. Below is the trial balance of the company for the year ended 31 March 2019: Roslindawati Sdn Bhd Trial
Roslindawati Sdn Bhd is a manufacturer. Below is the trial balance of the company for the year ended 31 March 2019:
Roslindawati Sdn Bhd Trial Balance as at 31 March 2019
Additional information for the year:
i. Closing inventories are RM39,570 for raw materials, RM17,980 for work-in-progress and RM76,190 for finished goods.
ii. Final machinery maintenance invoice has not been accrued. Total cost is RM3,530.
iii. The following expenses are to be allocated as below:
Factory | Administration | |
Utilities | 80% | 20% |
Rental and insurance | 90% | 10% |
iv.Annual depreciation for machinery is 5 per cent per annum and 10 per cent per annum for office furniture.
v.Bad debts for the year amounted to RM4,080 which have yet been recorded
Required:
(a)Prepare the Manufacturing Account for the financial year ended 31 March 2019.
(b)Prepare the Statement of Profit or Loss for the financial year ended 31 March 2019.
(c)Prepare the Statement of Financial Position as at 31 March 2019
Roslindawati Sdn Bhd Trial Balance as at 31 March 2019 Debit RM Credit RM 267,600 Raw material purchases Opening inventories: Raw materials Work-in-progress Finished goods Carriage inwards Factory wages Royalty 47,750 21,460 82,470 14,560 76,000 37,340 68,300 47,580 35,250 81,290 6,180 22,320 11,220 17,500 Administration salaries Sales salaries Utilities Rental and insurance Machinery maintenance 792,020 7,900 22,080 Marketing expenses Distribution expenses Interest expense Sales revenue Interest income Bank 104,680 22,900 79,200 986,400 700,000 345,000 163,000 2,030,000 Trade receivables and payables Office furniture 2,030,000Step by Step Solution
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