Premium One Bhd, a trader of stationery, was incorporated in Malaysia with an authorized capital of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Premium One Bhd, a trader of stationery, was incorporated in Malaysia with an authorized capital of RM200,000,000 consisting of 160,000,000 ordinary shares of RM1.00 each and 20,000,000 5% preference shares of RM2.00 each. The trial balance of Premium One Bhd for the year ended 31 December 2021 is as follows: Freehold land at cost Building at cost Plant and equipment at cost Motor vehicles at cost Accumulated depreciation on 1 January 2021: Buildings Plant and equipment Motor vehicles Ordinary share capital 5% preference share capital Share premium Retained earnings as at 1 January 2021 Reserves Rental income Interim dividend - Ordinary Shares - Preference Shares Loan from BMMB 10% debentures Account Receivables Account Payables Sales Cost of sales Rental expenses Staff salaries Closing Inventories Cash at bank Debenture Interest Bank Loan Interest Administrative expenses Distribution costs Tax paid Dividend income Development cost RM 10,000,000 18,200,000 11,700,000 1,800,000 870,000 150,000 1,300,000 11,432,000 400,000 2,580,000 960,000 312,000 80,000 108,000 920,000 648,000 360,000 1,340,000 63,340,000 RM 1,320,000 1,980,000 440,000 20,000,000 6,000,000 3,600,000 5,780,000 380,000 280,000 1,740,000 1,600,000 1,440,000 18,540,000 240,000 63,340,000 3 Premium One Bhd, a trader of stationery, was incorporated in Malaysia with an authorized capital of RM200,000,000 consisting of 160,000,000 ordinary shares of RM1.00 each and 20,000,000 5% preference shares of RM2.00 each. The trial balance of Premium One Bhd for the year ended 31 December 2021 is as follows: Freehold land at cost Building at cost Plant and equipment at cost Motor vehicles at cost Accumulated depreciation on 1 January 2021: Buildings Plant and equipment Motor vehicles Ordinary share capital 5% preference share capital Share premium Retained earnings as at 1 January 2021 Reserves Rental income Interim dividend - Ordinary Shares - Preference Shares Loan from BMMB 10% debentures Account Receivables Account Payables Sales Cost of sales Rental expenses Staff salaries Closing Inventories Cash at bank Debenture Interest Bank Loan Interest Administrative expenses Distribution costs Tax paid Dividend income Development cost RM 10,000,000 18,200,000 11,700,000 1,800,000 870,000 150,000 1,300,000 11,432,000 400,000 2,580,000 960,000 312,000 80,000 108,000 920,000 648,000 360,000 1,340,000 63,340,000 RM 1,320,000 1,980,000 440,000 20,000,000 6,000,000 3,600,000 5,780,000 380,000 280,000 1,740,000 1,600,000 1,440,000 18,540,000 240,000 63,340,000 3
Expert Answer:
Answer rating: 100% (QA)
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2021 Revenue Rental inc... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The summarized statements for the year ended 31 December 2007 for Mat, Rug and P entities are as follows: Statements of comprehensive income for the year ended 31 December 2007 The following...
-
The trial balance for Cozy Fireplaces Inc. for December 31, 2011, follows: Additional information for adjusting entries: 1. The deposits from customers were for future deliveries. As of December 31,...
-
In preparing the financial statements for the year ended 31 December 20X5 Alpha plc discovers the following, all of which are material in the context of the company's results: Development...
-
What is performance measurement?
-
Prepare a house of quality for a mousetrap.
-
Write out and solve the gradient flow system corresponding to the following quadratic forms: (a) 2 + v2 (b) m v (c) 42 - 2m v + v2 (d) 2u2 - u v - 2u w + 2v2 - vw + 2w2
-
The 2015 annual report of The Procter & Gamble Company (P&G) is available at www.pginvestor.com, After reviewing P&Gs annual report, respond to the following questions: a. Prepare a list of some of...
-
Bad-Debt ReportingAging Mani Low Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Mani lows Accounts Receivable account was...
-
The foreign exchange rates for May 2 6 , 2 0 0 8 was when British pound sold for $ 2 ( US ) per pound. On that day, how many dollars would be required to purchase 1 , 0 0 0 units of each of the...
-
Freddy Frolic consumes only asparagus and tomatoes, which are highly seasonal crops in Freddys part of the world. He sells umbrellas for a living, which provides a fluctuating income depending on the...
-
Mother Teresa said: "I alone cannot change the world, but I can cast a stone across the waters to create many ripples". We live in a challenging world, and to create a fairer and more just world, we...
-
Do you support CMS's decision to adopt the "stand-in-the-shoes" amendments to the Stark Law
-
A corporation commenced operations on January 1, 2019. It has the following account balances at December 31, 2019: Accounts Payable $35,000 Accounts 45,000 Receivable Bank Loan 65,000 Building 67,000...
-
(case) Inserting the Team Concept into Compensation or not Questions: What do you believe is the cause of the customer churn? What would you do to stop the customer churn?
-
Metatrend's stock will generate earnings of $6 per share next year. The discount rate for the stock is 15% and the company's ROE is also 15%. Find the growth rate of dividends and the expected stock...
-
Lester is developing a routine business message. He is working on his primary message. How long should it be ? fewer than 1 0 words fewer than 5 words at least 2 5 words between 1 0 and 2 0 words
-
Jeff & Jane Collin's filing status is married filing jointly. The have an adjusted gross income of $375,000 and two dependent children, ages 19 & 16. What is the amount of child tax credit they are...
-
Estimate a range for the optimal objective value for the following LPs: (a) Minimize z = 5x1 + 2x2 Subject to X1 - x2 3 2x1 + 3x2 5 X1, x2 0 (b) Maximize z = x1 + 5x2 + 3x3 Subject to X1 + 2x2 +...
-
Explain why it is quite easy to manipulate the level of gross profit when preparing a trading account.
-
Contribution analysis described in textbooks is too simplistic and is of little relevance to management. How far do you agree with this statement?
-
Donalds transactions for the month of March 2012 are as follows: Cash receipts ............... Capital contributed ............6 000 Sales to customers .............3 000 Cash payments Goods for...
-
The Sky Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: During the year, the following transactions occurred: 1. Sold long-term investments...
-
Refer to the data given for the Artic Company in Problem P12-1A. Required a. Calculate the change in cash that occurred during 2019. b. Prepare a statement of cash flows using the direct method. c....
-
Pearce Enterprises reported the following information for the past year of operations: For each transaction, indicate whether the ratio will (I) increase, (D) decrease, or (N) have no effect....
Study smarter with the SolutionInn App