4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Credit Debit RM 1,760 RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory Office Machinery (Cost: RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank Sales Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 TOTAL Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory at 31 December 2020: a. Raw materials RM14,510 RM44,490 b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 i. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent prepaid RM140 Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Credit Debit RM 1,760 RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory Office Machinery (Cost: RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank Sales Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 TOTAL Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory at 31 December 2020: a. Raw materials RM14,510 RM44,490 b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 i. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent prepaid RM140 Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education