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The following balances were extracted from the books of Samurai Sdn Bhd for the year ended 31 December 2022 . 7 BBM20610 Additional information: i.
The following balances were extracted from the books of Samurai Sdn Bhd for the year ended 31 December 2022 . 7 BBM20610 Additional information: i. Inventory at 31 December 2022 was RM13,500. ii. Wages and Salary were to be apportioned as: Distribution 25% and administration 75%. iii. Depreciation policy of Samurai is: Motor Vehicles at rate of 20% on cost per annum Plant and Machinery (which was used for production) at rate of 10% on cost per annum iv. Accrued Auditors' Fees amounted to RM3,300. v. Corporate tax was estimated to be RMB,200. vi. RM6,000 was to be transferred to General Reserve. vi. Proposed Ordinary Share Dividends amounted to RM10,800. Required: Prepare the Statement of Comprehensive Income for the year ended 31 December 2022 by adopting the function of expense or "cost of sales" method in accordance with MFRS 101 Presentation of Financial Statements. (Show workings where appropriate). (40 marks) The following balances were extracted from the books of Samurai Sdn Bhd for the year ended 31 December 2022 . 7 BBM20610 Additional information: i. Inventory at 31 December 2022 was RM13,500. ii. Wages and Salary were to be apportioned as: Distribution 25% and administration 75%. iii. Depreciation policy of Samurai is: Motor Vehicles at rate of 20% on cost per annum Plant and Machinery (which was used for production) at rate of 10% on cost per annum iv. Accrued Auditors' Fees amounted to RM3,300. v. Corporate tax was estimated to be RMB,200. vi. RM6,000 was to be transferred to General Reserve. vi. Proposed Ordinary Share Dividends amounted to RM10,800. Required: Prepare the Statement of Comprehensive Income for the year ended 31 December 2022 by adopting the function of expense or "cost of sales" method in accordance with MFRS 101 Presentation of Financial Statements. (Show workings where appropriate). (40 marks)
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