Land Accumulated QUESTION 2 Below are financial data for Statement of Financial Position as at 31...

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Land Accumulated QUESTION 2 Below are financial data for Statement of Financial Position as at 31 December 2019. Used all these data to construct the required statement. Account Payable Prepayment Inventories Investment Common Stock Securities Other reserved Depreciation Tax Payable Equipment Cash Account Receivables Long-Term Preferred stocks Retained Earnings Notes Payable Financing Accrued Expenses Mortgage Loan Bank Bond 51,000 41,000 5,000 30,000 18,800 50,000 40,000 25,500 32,000 10,000 62,000 46,200 66,000 90,000 23,500 35,000 44,000 42,000 188,000 Additional information: a) Land value is RM300,000 b) Current ratio is 1.5 times c) Cash & Banks = 35% of Current assets d) Long-term Liabilities = Current liabilities e) Retained earnings = 12% of Fixed assets. f) ITO = 4.25 times and COGS = RM170,000 Prepare the Statement of Financial position as at 31 December 2019, for TT Resources Berhad. (18 marks) Land Accumulated QUESTION 2 Below are financial data for Statement of Financial Position as at 31 December 2019. Used all these data to construct the required statement. Account Payable Prepayment Inventories Investment Common Stock Securities Other reserved Depreciation Tax Payable Equipment Cash Account Receivables Long-Term Preferred stocks Retained Earnings Notes Payable Financing Accrued Expenses Mortgage Loan Bank Bond 51,000 41,000 5,000 30,000 18,800 50,000 40,000 25,500 32,000 10,000 62,000 46,200 66,000 90,000 23,500 35,000 44,000 42,000 188,000 Additional information: a) Land value is RM300,000 b) Current ratio is 1.5 times c) Cash & Banks = 35% of Current assets d) Long-term Liabilities = Current liabilities e) Retained earnings = 12% of Fixed assets. f) ITO = 4.25 times and COGS = RM170,000 Prepare the Statement of Financial position as at 31 December 2019, for TT Resources Berhad. (18 marks)