Tulip Merah Sdn. Bhd. was registered with an authorized capital of 1,000,000 ordinary shares and 500,000...

   

Transcribed Image Text:

Tulip Merah Sdn. Bhd. was registered with an authorized capital of 1,000,000 ordinary shares and 500,000 preference shares. The following is the Trial Balance of Tulip Merah Sdn. Bhd. as at 31 December 2021. 7.2% Preference shares Ordinary shares General reserve Retained profit - 31 December 2021 Sales Inventory - 31 December 2021 Purchases Salesmen's salaries and commission Advertising e DEBIT 100,000 300,000 100,000 45,000 CREDIT 200,000 740,000 100,000 120,000 890,000 Advertising Office salaries e Office expenses Directors' emolument Ć Audit fees e 10% debentures Interim dividends: preference dividend : ordinary dividend Debenture interest Trade payables Tax paid Plant and machinery at cost Accumulated depre. on plant and machinery Trade receivables Bank 45,000 100,000 55,000 25,000 5,000 7,200 25,200 10,000 35,000 1,540,000 90,000 102,600 2,540,000 200,000 40,000 250,000 2,540,000 Additional information a) Inventory as at 31 December 2022 was RM150,000 Accrued debenture interest was RM10,000 b) c) Depreciation on plant and machinery was RM90,000 d) Tax payable is calculated to be RM32,000 From the information you are required to prepare: a) b) Statement of Comprehensive Income for the year ended 31 December 2022. Statement of Changes in Equity for the year ended 31 December 2022. Statement of Financial Position as at 31 December 2022. (External) c) Tulip Merah Sdn. Bhd. was registered with an authorized capital of 1,000,000 ordinary shares and 500,000 preference shares. The following is the Trial Balance of Tulip Merah Sdn. Bhd. as at 31 December 2021. 7.2% Preference shares Ordinary shares General reserve Retained profit - 31 December 2021 Sales Inventory - 31 December 2021 Purchases Salesmen's salaries and commission Advertising e DEBIT 100,000 300,000 100,000 45,000 CREDIT 200,000 740,000 100,000 120,000 890,000 Advertising Office salaries e Office expenses Directors' emolument Ć Audit fees e 10% debentures Interim dividends: preference dividend : ordinary dividend Debenture interest Trade payables Tax paid Plant and machinery at cost Accumulated depre. on plant and machinery Trade receivables Bank 45,000 100,000 55,000 25,000 5,000 7,200 25,200 10,000 35,000 1,540,000 90,000 102,600 2,540,000 200,000 40,000 250,000 2,540,000 Additional information a) Inventory as at 31 December 2022 was RM150,000 Accrued debenture interest was RM10,000 b) c) Depreciation on plant and machinery was RM90,000 d) Tax payable is calculated to be RM32,000 From the information you are required to prepare: a) b) Statement of Comprehensive Income for the year ended 31 December 2022. Statement of Changes in Equity for the year ended 31 December 2022. Statement of Financial Position as at 31 December 2022. (External) c) Tulip Merah Sdn. Bhd. was registered with an authorized capital of 1,000,000 ordinary shares and 500,000 preference shares. The following is the Trial Balance of Tulip Merah Sdn. Bhd. as at 31 December 2021. 7.2% Preference shares Ordinary shares General reserve Retained profit - 31 December 2021 Sales Inventory - 31 December 2021 Purchases Salesmen's salaries and commission Advertising e DEBIT 100,000 300,000 100,000 45,000 CREDIT 200,000 740,000 100,000 120,000 890,000 Advertising Office salaries e Office expenses Directors' emolument Ć Audit fees e 10% debentures Interim dividends: preference dividend : ordinary dividend Debenture interest Trade payables Tax paid Plant and machinery at cost Accumulated depre. on plant and machinery Trade receivables Bank 45,000 100,000 55,000 25,000 5,000 7,200 25,200 10,000 35,000 1,540,000 90,000 102,600 2,540,000 200,000 40,000 250,000 2,540,000 Additional information a) Inventory as at 31 December 2022 was RM150,000 Accrued debenture interest was RM10,000 b) c) Depreciation on plant and machinery was RM90,000 d) Tax payable is calculated to be RM32,000 From the information you are required to prepare: a) b) Statement of Comprehensive Income for the year ended 31 December 2022. Statement of Changes in Equity for the year ended 31 December 2022. Statement of Financial Position as at 31 December 2022. (External) c) Tulip Merah Sdn. Bhd. was registered with an authorized capital of 1,000,000 ordinary shares and 500,000 preference shares. The following is the Trial Balance of Tulip Merah Sdn. Bhd. as at 31 December 2021. 7.2% Preference shares Ordinary shares General reserve Retained profit - 31 December 2021 Sales Inventory - 31 December 2021 Purchases Salesmen's salaries and commission Advertising e DEBIT 100,000 300,000 100,000 45,000 CREDIT 200,000 740,000 100,000 120,000 890,000 Advertising Office salaries e Office expenses Directors' emolument Ć Audit fees e 10% debentures Interim dividends: preference dividend : ordinary dividend Debenture interest Trade payables Tax paid Plant and machinery at cost Accumulated depre. on plant and machinery Trade receivables Bank 45,000 100,000 55,000 25,000 5,000 7,200 25,200 10,000 35,000 1,540,000 90,000 102,600 2,540,000 200,000 40,000 250,000 2,540,000 Additional information a) Inventory as at 31 December 2022 was RM150,000 Accrued debenture interest was RM10,000 b) c) Depreciation on plant and machinery was RM90,000 d) Tax payable is calculated to be RM32,000 From the information you are required to prepare: a) b) Statement of Comprehensive Income for the year ended 31 December 2022. Statement of Changes in Equity for the year ended 31 December 2022. Statement of Financial Position as at 31 December 2022. (External) c)

Answer rating: 100% (QA)

a Statement of comprehensiv... View the full answer