Zombie Berhad has the following trial balance at 31 December 2021: RM RM Revenue 7,602,504 730,600...

Transcribed Image Text:

Zombie Berhad has the following trial balance at 31 December 2021: RM RM Revenue 7,602,504 730,600 208,000 Purchases Retums inwards Plant at cost Machinery at cost 10,712,000 4,940,000 Office equipment at cost 4,680,000 Accumulated depreciation-- Plant 936,000 988,000 -- Machinery -- Office equipment 520,000 Accounts payable Long-term borrowing 629,200 1,040,000 Accounts receivable 2,191,072 218,400 358,904 Inventory Cash and bank Administration expenses 520,000 26,000 Long tem borrowing interests Salaries and wages 252,720 Marketing expenses Discount allowed 208,000 72,800 Share capital Retained profits as at 1 Jan 2021 8,320,000 4,602,208 General Reserve 480,584 25,118.496 ...5/- Total 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) Zombie Berhad has the following trial balance at 31 December 2021: RM RM Revenue 7,602,504 730,600 208,000 Purchases Retums inwards Plant at cost Machinery at cost 10,712,000 4,940,000 Office equipment at cost 4,680,000 Accumulated depreciation-- Plant 936,000 988,000 -- Machinery -- Office equipment 520,000 Accounts payable Long-term borrowing 629,200 1,040,000 Accounts receivable 2,191,072 218,400 358,904 Inventory Cash and bank Administration expenses 520,000 26,000 Long tem borrowing interests Salaries and wages 252,720 Marketing expenses Discount allowed 208,000 72,800 Share capital Retained profits as at 1 Jan 2021 8,320,000 4,602,208 General Reserve 480,584 25,118.496 ...5/- Total 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)

Answer rating: 100% (QA)

Zombie Berhad Comprehensive Income Statement For the Year Ended December 31 2021 Revenue 7602504 Les... View the full answer