i. JOURNALISE THE TRANSACTION

ii. PREPARE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

iii. PREPARE STATEMENT CHANGES OF EQUITY

iv. PREPARE STATEMENT OF FINANCIAL POSITION

v. NOTES TO THE FINANCIAL STATEMENT

vi. PROPERTY, PLANT & EQUIPMENT

vii. CONTINGENT LIABILITY/ CONTINGENT ASSET (IF ANY)

 

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Trial Balance as at 31 December2021 Revenue Cost of sales Distribution costs Administrative costs Directors remuneration Advertisement Audit fees Consultancy fees Investment income Freehold land(revaluation) Building (revaluation) Machineries (cost) Motor vehicles (cost) Investment properties Investment Accumulated depreciation as at 1 January 2021: Building Machineries Motor vehicles APPENDIX A Ordinary shares 4% redeemable preference shares 5% non-cumulative preference shares Retained profit Revaluation reserves Tax paid Debit RM 5,550,000 870,000 2,100,000 120,000 60,000 75,000 15,000 65,000,000 62,500,000 97,800,000 70,000,000 1,500,000 570,000 321,000 Credit RM 38,500,000 20,000 15,000,000 4,700,000 3,500,000 58,000,000 650,000 13,500,000 209,206,000 1,320,000 Trial Balance as at 31 December2021 Revenue Cost of sales Distribution costs Administrative costs Directors remuneration Advertisement Audit fees Consultancy fees Investment income Freehold land(revaluation) Building (revaluation) Machineries (cost) Motor vehicles (cost) Investment properties Investment Accumulated depreciation as at 1 January 2021: Building Machineries Motor vehicles APPENDIX A Ordinary shares 4% redeemable preference shares 5% non-cumulative preference shares Retained profit Revaluation reserves Tax paid Debit RM 5,550,000 870,000 2,100,000 120,000 60,000 75,000 15,000 65,000,000 62,500,000 97,800,000 70,000,000 1,500,000 570,000 321,000 Credit RM 38,500,000 20,000 15,000,000 4,700,000 3,500,000 58,000,000 650,000 13,500,000 209,206,000 1,320,000

Answer rating: 100% (QA)

1 Journalise the transaction Revalued Freehold Land on January 1 2020 Dr 65000000 to Revaluation Reserve and Cr 65000000 to Freehold Land 01012020 Revalued Building Dr 625 million to Revaluation Reser... View the full answer