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4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Credit Debit RM RM 1,760 Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission 7,220 1,490 72,100 8,100 1,940 11,688 57,210 Purchase of raw materials Rent: Factory Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank Sales 6.100 2,700 28.600 8,200 17,740 34,200 9,400 16,142 194,800 Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 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 b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 ii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent prepaid RM140 RM14,510 RM44,490 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 RM 1,760 Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission 7,220 1,490 72,100 8,100 1,940 11,688 57,210 Purchase of raw materials Rent: Factory Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank Sales 6.100 2,700 28.600 8,200 17,740 34,200 9,400 16,142 194,800 Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 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 b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 ii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent prepaid RM140 RM14,510 RM44,490 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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4G l 3G ll 0.IK/s (3) Il:42 4G1 20% 4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit Credit RM RM 1,760 Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank 8,200 17,740 34,200 9,400 16,142 194,800 Sales Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 6,200 13,260 41,300 24,200 155,950 TOTAL 360,150 360,150 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory at 31 December 2020: a. Raw materials b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 iii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent RM14,510 RM44,490 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. 5. Jojomat Ltd owns a small business making and selling children's toys. The following trial balance was extracted from her books on 31 December 2020: Particulars Debit Credit RM RM Capital Drawings 15,000 Sales Inventory at Januar 2020: Page aw r Finished goods Purchased of raw materials Carriage inwards 90,000 + 5 ials 6,100 18,000 800 Eactonungor 18 600
Transcribed Image Text:4G l 3G ll 0.IK/s (3) Il:42 4G1 20% 4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit Credit RM RM 1,760 Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank 8,200 17,740 34,200 9,400 16,142 194,800 Sales Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 6,200 13,260 41,300 24,200 155,950 TOTAL 360,150 360,150 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory at 31 December 2020: a. Raw materials b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 iii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent RM14,510 RM44,490 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. 5. Jojomat Ltd owns a small business making and selling children's toys. The following trial balance was extracted from her books on 31 December 2020: Particulars Debit Credit RM RM Capital Drawings 15,000 Sales Inventory at Januar 2020: Page aw r Finished goods Purchased of raw materials Carriage inwards 90,000 + 5 ials 6,100 18,000 800 Eactonungor 18 600
4G ll 3G ll OK/s (3) Il:42 4G1 20% 5. Jojomat Ltd owns a small business making and selling children's toys. The following trial balance was extracted from her books on 31 December 2020: Particulars Debit Credit RM RM Capital Drawings Sales Inventory at 1 January 2020: Raw materials Finished goods Purchased of raw materials Carriage inwards Factory wages Office salaries Jojomat : Salary and expenses General expenses: Factory Office Lighting Rent 15,000 2,000 90,000 3,400 6,100 18,000 800 18,500 16.900 10,400 1,200 750 2,500 3,750 950 Insurance Advertising Bad debts Discount received 1,400 650 1,600 Prepared by: Puan Siti Nor Junita Mohd Radzi another persoN s work as your own. The submitted Carriage outwards Plant and machinery, a cost less depreciation Car, at cost less depreciation 375 9,100 4,200 Bank Cash in hand Account receivable and account payable 3,600 325 7,700 112,600 6,000 112,600 TOTAL Additional information: i. Inventory at 31 December 2020: a. Raw materials RM2,900 b. Finished goods RM8,200 ii. Depreciation for the year is to be charged as follows: a. Plant and machinery b. Car iii. At 31 December 2020 insurance paid in advance was RM150 and office general RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office v. Insurance are to be apportioned: % Factory % Office vi. Jojo is the business sales person and her salary and expenses are to be treated as a selling expense. She has sole use of a business car. 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.
Transcribed Image Text:4G ll 3G ll OK/s (3) Il:42 4G1 20% 5. Jojomat Ltd owns a small business making and selling children's toys. The following trial balance was extracted from her books on 31 December 2020: Particulars Debit Credit RM RM Capital Drawings Sales Inventory at 1 January 2020: Raw materials Finished goods Purchased of raw materials Carriage inwards Factory wages Office salaries Jojomat : Salary and expenses General expenses: Factory Office Lighting Rent 15,000 2,000 90,000 3,400 6,100 18,000 800 18,500 16.900 10,400 1,200 750 2,500 3,750 950 Insurance Advertising Bad debts Discount received 1,400 650 1,600 Prepared by: Puan Siti Nor Junita Mohd Radzi another persoN s work as your own. The submitted Carriage outwards Plant and machinery, a cost less depreciation Car, at cost less depreciation 375 9,100 4,200 Bank Cash in hand Account receivable and account payable 3,600 325 7,700 112,600 6,000 112,600 TOTAL Additional information: i. Inventory at 31 December 2020: a. Raw materials RM2,900 b. Finished goods RM8,200 ii. Depreciation for the year is to be charged as follows: a. Plant and machinery b. Car iii. At 31 December 2020 insurance paid in advance was RM150 and office general RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office v. Insurance are to be apportioned: % Factory % Office vi. Jojo is the business sales person and her salary and expenses are to be treated as a selling expense. She has sole use of a business car. 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.
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