4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows:ParticularsDebitCreditRMRM1,760Delivery van expensesLighting and heating:FactoryOfficeManufacturing wagesGeneral expenses:FactoryOffice7,2201,49072,1008,1001,940Sales representatives : CommissionPurchase of raw materials11,68857,210Rent:FactoryOffice6,1002,700Machinery (Cost : RM40,000)Office equipment ( RM9,000)Office salaries28,6008,20017,74034,200Accounts receivablesAccount payables9,400Bank16,142SalesVan (cost RM6,800)Inventory at 31 December 2020:Raw materials194,8006,20013,26041,300Finished goodsDrawingsСapital24,200155,950360,150ТОTAL360,150 Additional information:i. Inventory at 31 December 2020:RM14,510a. Raw materialsb. Finished goodsii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200i. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rentRM44,490prepaid RM140Required: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.

Operating expenses are those expenses that are incurred for normal business operations like rent,…

4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit Credit RM RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office 1,760 7,220 1,490 72,100 |Sales representatives : Commission Purchase of raw materials Rent: 8,100 1,940 11,688 57,210 Factory Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 Sales | Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Сapital 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 ТОTAL

4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit Credit RM RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office 1,760 7,220 1,490 72,100 |Sales representatives : Commission Purchase of raw materials Rent: 8,100 1,940 11,688 57,210 Factory Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 Sales | Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Сapital 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 ТОTAL

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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