Notes to accounts

4. COST OF SALES
BALANCE AS AT 1.1.2019 300,000
LOSS IN VALUATION 30,000
330,000

5. SELLING & DISTRIBUTION COST

SELLING COST [80K-15K] 65,000
DEPEN - BUILDING [5%*(1,350,000 - 500,000) *60%] 25,500
DEPN - VEHICLE [20%*245000*100%] 49,000
DEPN - O.EQUIPMENT [10%*150000*(60%)] 9,000
148,500

6. GENERAL & ADMINISTRATIVE COST

BAD DEBTS [20K+2K] 22,000
ADMINISTRATIVE COST [120K+12K] 132,000
DEPEN - BUILDING [5%*(1,350,000 - 500,000) *40%] 17,000
DEPN - O.EQUIPMENT [10%*150000*(40%)] 6,000
177,000

7. FINANCE COST
INT ON DEBENTURE (PAID) 10,000
ACCRUED INT ON DEB 40,000
INT ON DEB FOR THE YEAR [5%*1,000,000] 50,000

8. TAXATION
TAX FOR THE YEAR [20%*119500] 23,900
TAX PAYABLE 23,900

9. INVENTORY
BALANCE AS AT 31.12.19 310,000
LOSS IN VALUATION (30,000)
NET REALISABLE VALUE 280,000

10. TRADE RECEIVABLES

BALANCE AS AT 31.12.19 200,000
ALL. FOR DD [6%*200000] (12,000)
188,000
THERE IS AN INCREASE IN A4DD [10K® 12K] = $2K

11. ACCRUALS
ADMINISTRATIVE COST 12,000
INT ON DEB 40,000
52,000

12. PREPAYMENTS
SELLING COST 15,000
15,000

13. PROPERTY, PLANT & EQUIPMENT

LAND & BUILDING
COST.
BALANCE AS AT 1.1.19 1,350,000
ADDITION -
DISPOSAL -
REVALUATION 150,000
BALANCE AS AT 31.12.19 1,500,000
ACCUMULATED DEPRECIATION:
BALANCE AS AT 1.1.19 50,000
CURRENT YEAR DEPRECIATION 42,500
REVALUATION
BALANCE AS AT 31.12.19 92,500

NET BOOK VALUE / CARRYING VALUE AS AT 31.12.19 1,407,500

14. BONUS SHARES

[$800000/$2] = [(400,000 ORD SHARES/100 OS)*5 = 20,000 BONUS SHARES * $1 = $20,000

15. FINAL DIVIDEND

400,000 OS * $0.10 = $40,000 40,000
THESE ARE FINAL DIVIDENDS DECLARED & PAYABLE
¬ WE WILL USE ALLOWANCE METHOD OF ACCOUNTING
 OFFICE
MOTOR VEHICLE TOTAL
EQUIPMENT

150,000 245,000 1,745,000

- - -
- - -
150,000
150,000 245,000 1,895,000

30,000 40,000 120,000

15,000 49,000 106,500
-
45,000 89,000 226,500

105,000 156,000 1,668,500

 Let's Try This Question Berhad
Statement of Comprehensive Income for the year ended 31 December 2019
Note RM
Revenue 800,000
Cost of sales 4 (330,000)
Gross profit 470,000
Other income 15,000
Selling & Distribution cost 5 (148,500)
General & Administrative cost 6 (177,000)
Net operating profit 159,500
Interest/ investment income 10,000
Finance cost 7 (50,000)
Net profit before tax 119,500
Tax 8 (23,900)
Net profit after tax 95,600 ** ONLY THIS INFO WIL

Other comprehensive income

Gain on LAND 150,000
Total other comprehensive income 150,000

Total comprehensive income 245,600 # THIS INFOR HAS NO U

** ONLY THIS INFO WILL BE REPORTED IN STATEMENT OF CHANGE IN EQUITY

# THIS INFOR HAS NO USEFULNESS IN OTHER STATEMENTS

 Let's Try This Question Berhad
Statement of Financial Position as at 31 December 2019
Note RM
NON-CURRENT ASSETS
PROPERTY, PLANT & EQUIPMENT 13

CURRENT ASSETS
BANK 90,000
TRADE RECEIVABLE 10 188,000
INVENTORY 9 280,000
PREPAYMENTS 12 15,000
TOTAL ASSETS

EQUITY
SHARE CAPITAL
ORDINARY SHARES 820,000
RESERVES
RETAINED PROFIT 75,600
REVALUATION RESERVES 130,000

CURRENT LIABILITIES
TRADE PAYABLE 100,000
TAX PAYABLE 8 23,900
ACCRUALS 11 52,000
FINAL DIVIDEND PAYABLE 15 40,000

NON-CURRENT LIABILITIES
5% DEBENTURE
TOTAL EQUITIES & LIABILITIES
19
RM

1,668,500

573,000
2,241,500

1,025,600

215,900

1,000,000
2,241,500 BRAVO MADHAVAN
 Let's Try This Question Berhad
Statement of Change in Equity for the year ended 31 December 2019
NOTE ORD SHARES RETAINED EARNINGS
Balance as at 1.1.19 800,000 20,000
PROFIT AFTER TAX 95,600
REVALUATION OF LAND
BONUS SHARES 14 20,000
FINAL DIVIDEND DECLARED 15 (40,000)
BALANCE AS AT 31.12.19 820,000 75,600
 rhad
nded 31 December 2019
REVALUATION
TOTAL
RESRVE
820,000
95,600
150,000 150,000
(20,000) -
(40,000)
130,000 1,025,600