Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Zombie Berhad has the following trial balance at 31 December 2021: RM RM 7,602,504 730,600 208,000 10,712,000 4,940,000 4,680,000 936,000 988,000 520,000 629,200 1,040,000 Revenue
Zombie Berhad has the following trial balance at 31 December 2021: RM RM 7,602,504 730,600 208,000 10,712,000 4,940,000 4,680,000 936,000 988,000 520,000 629,200 1,040,000 Revenue Purchases Returns inwards Plant at cost Machinery at cost Office equipment at cost Accumulated depreciation-- Plant -- Machinery -- Office equipment Accounts payable Long-term borrowing Accounts receivable Inventory Cash and bank Administration expenses Long term borrowing interests Salaries and wages Marketing expenses Discount allowed Share capital Retained profits as at 1 Jan 2021 General Reserve Total 2,191,072 218,400 358,904 520,000 26,000 252,720 208,000 72,800 8,320,000 4,602,208 480,584 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 non- current assets. Share capital: RM7,800,000 ordinary shares and RM520,000 4% preference shares. 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. (40 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started