The following balances existed in the accounting records of Kopi Bhd at 31 December 2018: RM'000 Development cost capitalized, 1/1/18 180 Freehold land as revalued 31/12/18 2,200 Buildings - cost 900 Provision for depreciation - Buildings at 1/1/18 100 Office equipment -cost 260 Provision for depreciation - office equipment at 60 1/1/18 Motor vehicles - cost 200 Provision for depreciation - motor vehicles at 1/1/18 90 Trade receivables 1,360 Cash at bank 90 Trade payables 820 12% Debentures issued 2017 and redeemable 2020) 1,000 Share capital - RM0.50 each 1,000 Share premium 500 Revaluation reserve 200 Retained earnings 1/1/18 1,272 Sales revenue 8,650 Purchases Research and development expenditure Inventories 1/1/18 Distribution costs Administrative expense Debenture interest Interim dividend 5,010 162 990 460 1,560 120 200 + + In preparing the company's financial statements at 31 December 2018, the following further information is relevant: 1. Inventory at 31 December 2018 was RMS 80,000. 2. Depreciation is to be provided for as follows: Land Buildings 2% per annum on cost Office equipment 20% per annum, reducing balance basis Motor vehicles 25% per annum on cost Nil Depreciation on buildings and office equipment is all charged to administrative expenses. Depreciation on motor vehicles is to be split equally between distribution costs and administrative expenses. 3. The RM180,000 total for development costs as at 1 January 2018 relates to two projects: RM '000 Project X: completed project (balance being amortized 82 over the period expected to benefit from it. Amount to be amortized in 2018: RM20,000) Project Y: in progress 98 180 4. The research and development expenditure for the year is made up of: RM000 Research expenditure 103 Development costs on project Y that continues to satisfy 59 the requirements in IAS38 for capitalization 162 5. The freehold land had originally cost RM2,000,000 and was revalued on 31 December 2018. 6. Prepayments and accruals at 31 December 2018 were: Prepayments Accruals RM'000 RM 000 Administrative expenses 40 11 2 Sundry distribution costs 4 7. The share premium account balance arose as a result of the issue during 2018 of 1,000,000 RM0.50 equity shares at RM1 each. All shares qualified for the proposed final dividend to be provided for. 8. A final dividend of RM0.20 per share is proposed. Required: Prepare the company's statement of comprehensive income, a statement of changes in equity for the year ended 31 December 2018 and a statement of financial position as at that date, in a form suitable for publication as far as the information provided permits. Ignore taxation. (Show all working solutions. The answers MUST be prepared in excel sheet). The following balances existed in the accounting records of Kopi Bhd at 31 December 2018: RM'000 Development cost capitalized, 1/1/18 180 Freehold land as revalued 31/12/18 2,200 Buildings - cost 900 Provision for depreciation - Buildings at 1/1/18 100 Office equipment -cost 260 Provision for depreciation - office equipment at 60 1/1/18 Motor vehicles - cost 200 Provision for depreciation - motor vehicles at 1/1/18 90 Trade receivables 1,360 Cash at bank 90 Trade payables 820 12% Debentures issued 2017 and redeemable 2020) 1,000 Share capital - RM0.50 each 1,000 Share premium 500 Revaluation reserve 200 Retained earnings 1/1/18 1,272 Sales revenue 8,650 Purchases Research and development expenditure Inventories 1/1/18 Distribution costs Administrative expense Debenture interest Interim dividend 5,010 162 990 460 1,560 120 200 + + In preparing the company's financial statements at 31 December 2018, the following further information is relevant: 1. Inventory at 31 December 2018 was RMS 80,000. 2. Depreciation is to be provided for as follows: Land Buildings 2% per annum on cost Office equipment 20% per annum, reducing balance basis Motor vehicles 25% per annum on cost Nil Depreciation on buildings and office equipment is all charged to administrative expenses. Depreciation on motor vehicles is to be split equally between distribution costs and administrative expenses. 3. The RM180,000 total for development costs as at 1 January 2018 relates to two projects: RM '000 Project X: completed project (balance being amortized 82 over the period expected to benefit from it. Amount to be amortized in 2018: RM20,000) Project Y: in progress 98 180 4. The research and development expenditure for the year is made up of: RM000 Research expenditure 103 Development costs on project Y that continues to satisfy 59 the requirements in IAS38 for capitalization 162 5. The freehold land had originally cost RM2,000,000 and was revalued on 31 December 2018. 6. Prepayments and accruals at 31 December 2018 were: Prepayments Accruals RM'000 RM 000 Administrative expenses 40 11 2 Sundry distribution costs 4 7. The share premium account balance arose as a result of the issue during 2018 of 1,000,000 RM0.50 equity shares at RM1 each. All shares qualified for the proposed final dividend to be provided for. 8. A final dividend of RM0.20 per share is proposed. Required: Prepare the company's statement of comprehensive income, a statement of changes in equity for the year ended 31 December 2018 and a statement of financial position as at that date, in a form suitable for publication as far as the information provided permits. Ignore taxation. (Show all working solutions. The answers MUST be prepared in excel sheet)