QUESTION 1 Given below is the trial balance of Syarikat JadiKaya Bhd 31.12.

2008: Debit (RM) Preference share capital Ordinary share capital Premium share General reserves Profit and loss Gross profit Premise Office equipment at cost Accumulated depreciation for equipment at 1.1.2008 Stock at 31.12.2008 Salary Water and electricity Insurance General expenses Directors emolument Audit fee Rental Quoted investment Unquoted investment Quoted investment dividend Unquoted investment dividend Loss of equipment disposal Profit of written off investment Bad debts Provision for bad debts Creditors Debtors Bank Cash Additional information: a. Accrued expenses : general expenses RM 120 and audit fee RM 1,200 b. Prepaid expenses for rental RM 400. c. Provision for bad debts is 10% of the debtors account. d. Equipment depreciation is at the rate of 20% at cost e. Tax rate is 20% on companys net profit. Credit(R M) 40,000 300,000 15,000 42,000 21,500 95,070 18,000 18,500 16,800 7,450 4,910 830 9,580 3,460 5,200 20,000 5,000 1,200 750 1,200 2,500 4,560 1,650 12,480 22,700 42,600 360 550,150

327,000 60,000

550,150

f. The boards of directors decided to: i. ii. iii. Transfer RM 4,000 to general reserves Propose fully dividend of preference shares 5% Propose final dividend of 8% ordinary shares

g. Authorized share capital: 50,000, 5% preference shares at RM2.00 each. 800,000 ordinary shares at RM1.00 each h. Market value for quoted investment is RM 30,000 and unquoted investment is RM 8,000 valued by director. i. Company have a contingence liability RM 25,000. You are required to prepare Statement of Comprehensive Income and Statement of Financial Position for the year ended 31.12.2008.

Question 2( Jul 08)

Syarikat Teguh Bhd was registered with an authorized share capital of RM 1,500,000 made up of 1,000,000 ordinary shares of RM 1.00 each and 500,000 8% preference shares of RM 1.00 each. The following trial balance has been extracted from the books of company at 31 December 2007: Debit (RM) 250,000 8% preference shares @ RM 1.00 450,000 ordinary shares @ RM 1.00 Retained earning for the year ended 31.12.2006 10% debentures Directors emolument General expenses Audit fee Administrative expenses Purchases and sales Return outward and return inward Investment interest Worker salary Wages Insurance Water and electricity Inventory on 1 Jan 2007 Carriage outward Advertisement Provision for bad debts Premium shares General reserves Plant and machine Vehicles Office equipment Buildings Accumulated depreciation: Plant and machine Vehicles Office equipment Debtors and creditors Preference share dividend paid Goodwill Quoted investment Unquoted investment Bank Additional information: a. Inventory at cost price on 31 December 2007 is RM 33,770 and at market price is RM 36,000 b. Accrued expenses as at 31 December 2007 are as follow: Credit(RM) 250,000 450,000 130,840 45,000

65,000 2,300 5,400 45,780 180,760 1,550 35,690 1,200 6,000 2,500 28,500 1,680 3,070

450,880 2,080 5,300

3,500 26,000 25,000 295,000 85,800 75,890 125,450 30,500 26,500 18,700 68,430 55,660 5,000 32,500 200,000 180,000 98,000 1,532,730

1,532,730

c. d. e. i. ii. f. g.

General expenses RM 1,500 Water and electricity RM 800 Depreciation policy are: Office equipment, plant and machine is at the rate of 15% annually based on cost Vehicle is at the rate of 10% annually based on book value Company tax rate is 28%. The boards of directors decided to: i. Amortization of goodwill is 35% ii. Transfer RM 15,000 to general reserves Propose to pay final dividend of 5% ordinary shares Propose to pay final dividend of preference shares Provision for bad debts is 4% of the debtors account. Market value for the quoted investment is RM 250,000 and for the unquoted investment is RM 200,000.

You are required to prepare for internal use: i. Statement of Comprehensive Income for the year ended 31.12.2007 (Internal) (12.5 marks) ii. Statement of Financial Position as at 31.12.2007. (statement format) (12.5 marks)

Question 3(Jun 2011):

Given below is an extract of a trial balance of Bagus Bhd as at 31 December 2010. Details 7% redeemable preference shares @ RM 1 each Ordinary share@RM1 each Share premium General reserve Retained profit 1 January 2010 Capital reserve 10% debenture Administrative expenses Research and development Land Building (at cost) Plant and equipment (at cost) Furniture and fittings (at cost) Accumulated depreciation 1 January 2010: Buliding Plant and equipment Furniture and fittings Opening stock Purchases Sales Salaries Utilities Printing and stationary Advertising expenses Preference dividend paid-interim Ordinary dividend paid-interim Distribution expenses Debenture interest Bank balance Accounts receivable Accounts payable Directors emolument Insurance expenses paid Notes: i. ii. Closing stock for the year end is RM 180,000. Prepaid insurance is RM 3,000 and RM 2,000 of stationary has not been used. RM RM 200,000 1,200,000 650,000 400,000 450,000 50,000 200,000

85,000 730,000 1,000,000 1,000,000 400,000 200,000 40,000 120,000 60,000 150,000 900,000 2,000,000 240,000 40,000 12,000 140,000 7,000 42,000 42,000 10,000 136,000 110,000 45,000 160,000 11,000

iii. iv. v. vi. i. ii. iii. vii.

The second half years debenture interest has not been provided. Auditors fee of RM 24,000 has not been provided. Provision for doubtful debts of 10% is to be made after writing off RM 2,000 as bad debt. The following provisions are to be made: Depreciation of non-current assets: building 2% on cost, plant and equipment 10% on cost and furniture and fitting 20% on cost. Amortisation of research and development of RM 30,000 and Second half-years preference dividend. Director intend to declared dividend on ordinary shares of 15%. The director also decided to transfer RM 5,000 to capital reserve and RM 3,000 to general reserve.

viii.

Assuming tax rate is 28% a. Statement of Comprehensive Income for the year ended 31 December 2010 (for internal users) (15 marks) b. Statement of Financial Position as at 31 December 2010 (for internal uses) (10 marks)

Question 4: Given below is the trial balance of Batman Plc as at 31 December 2009. Debit Ordinary Shares 7% Preferences shares Premium shares Retained profit 1.1.2009 Tax Paid Interim dividends : Preferences shares Ordinary Shares Property (cost) Credit 1,200,000 200,000 120,000 127,060

45,000 5,040 43,200 1,600,000

Vehicles (cost) Plant & Machinery (cost) Gross Profit Bank Cash Inventory 31.12.2009 Debtors / Creditors Provision for bad debts Insurance expenses Water & electricity Salary General expenses Accumulated Depreciation: Plant & Machinery Vehicles Additional information: a.

180,000 120,000 600,000 40,000 8,420 64,000 36,000 50,000 18,900 172,000 19,320 24,000 36,000 2,401,880

91,220 3,600

2,401,880

Provision had been made to : Depreciation for Plant & Machinery is 10% on cost and for Vehicles is 20% on cost ii. Provision for bad debts increased to RM4,600 iii. Provision for Directors emolument are RM48,000 iv. Auditors fee is RM36,000 i. The tax expenses for this year is estimated at RM60,000 The directors declared : i. Proposed dividends for Preferences shares ii. Proposed dividends for Ordinary Shares 7% iii. Transfer to general reserve RM30,00

b. c.

You are required to prepare Statement of Comprehensive Income and Statement of Financial Position for the year ended 31 December 2009 for external with the format required by the Companies Act 1965.