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The following balances were extracted from the books of Samurai Sdn Bhd for the year ended 3 1 December 2 0 2 2 .
The following balances were extracted from the books of Samurai Sdn Bhd for the year ended December
tableRMRetained profit December Inventory January PurchasesSalesReturn inwards,Return outwards,Carriage inwards,Discount received for purchases,Directors remuneration,Distribution expenses,Administrative expenses,Rental income Commercial shoplotDebenture interest,Interest received on fixed deposit,Commission receivable,Interim ordinary shares dividends,Motor vehicles at cost Distribution,Plant and machinery at costWages Warehouse staff,Wages and salaries,Maintenance of motor vehicles Distribution,Advertising and promotion,Discount allowed on sales,
Additional information:
i Inventory at December was RM
ii Wages and Salary were to be apportioned as: Distribution and administration
iii. Depreciation policy of Samurai is:
Motor Vehicles at rate of on cost per annum
Plant and Machinery which was used for production at rate of on cost per annum
iv Accrued Auditors' Fees amounted to RM
v Corporate tax was estimated to be RM
vi RM was to be transferred to General Reserve.
vii. Proposed Ordinary Share Dividends amounted to RM
Required:
Prepare the Statement of Comprehensive Income for the year ended December by adopting the function of expense or "cost of sales" method in accordance with MFRS Presentation of Financial Statements: Show workings where appropriate
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