Carriage outwardsPlant and machinery, a cost less depreciationCar, at cost less depreciationBankCash in hand| Account receivable and account payable3759,1004,2003,6003257,7006,000ТОTAL112,600 112,600Additional information:i. Inventory at 31 December 2020:a. Raw materialsRM2,900RM8,200b. Finished goodsii. Depreciation for the year is to be charged as follows:a. Plant and machineryRM1,500b. CarRM500iii. At 31 December 2020 insurance paid in advance was RM150 and office generalexpenses unpaid were RM75iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 OfficeInsurance are to be apportioned: % Factory 4 Officevi. Jojo is the business sales person and her salary and expenses are to be treated asa selling expense. She has sole use of a business car.V.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 followingtrial balance was extracted from her books on 31 December 2020:ParticularsDebitCreditRMRMCapitalDrawingsSalesInventory at 1 January 2020:Raw materialsFinished goodsPurchased of raw materialsCarriage inwardsFactory wagesOffice salariesJojomat : Salary and expensesGeneral expenses:FactoryOffice15,0002,00090,0003,4006,10018,00080018,50016,90010,4001,200750LightingRentInsuranceAdvertisingBad debtsDiscount received2,5003,7509501,4006501,600

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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 RM Credit RM Сapital 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 |Insurance Advertising Bad debts Discount received 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 1,400 650 1,600

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 RM Credit RM Сapital 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 |Insurance Advertising Bad debts Discount received 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 1,400 650 1,600

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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Based on the Trial Balance below, prepare the COGS for Sanchez Marketing.
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