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ZOM Berhad has the following trial balance at 31 December 2021: RM RM Revenue 7,602,504 Purchases 730,600 Returns inwards 208,000 Plant at cost 10,712,000 Machinery

ZOM Berhad has the following trial balance at 31 December 2021:

RM

RM

Revenue

7,602,504

Purchases

730,600

Returns inwards

208,000

Plant at cost

10,712,000

Machinery at cost

4,940,000

Office equipment at cost

4,680,000

Accumulated depreciation-- Plant

936,000

-- Machinery

988,000

-- Office equipment

520,000

Accounts payable

629,200

Long-term borrowing

1,040,000

Accounts receivable

2,191,072

Inventory

218,400

Cash and bank

358,904

Administration expenses

520,000

Long term borrowing interests

26,000

Salaries and wages

252,720

Marketing expenses

208,000

Discount allowed

72,800

Ordinary share capital

8,320,000

Retained profits as at 1 Jan 2021

4,602,208

General Reserve

480,584

Total

25,118,496

25,118,496

Additional information:

-Inventory as at 31 December 2021 was RM447,200.

-Provision for company tax was RM429,520.

-Depreciation 20% on cost per annum based on monthly pro rata basis to all noncurrent assets.

-Share capital: 7,800,000 ordinary shares and 520,000 4% preference shares.Both were fully paid.

-Ordinary share dividend proposed to be 6%.

-Long term borrowing interest where half year interest still owing.

Required:

Prepare Statement of Comprehensive Income and Statement of Financial Position as at 31 Dec 2021.

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