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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.

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
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b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020. a) Prepa 2. The following information taken from Jejai Limited: Debit Credit Particulars RM RM Purchase of raw materials Fuel and light Administration salaries (FO)OCP) Factory wages Carriage outwards CRM Rent and business rates 258,000 21,000 17,000 59,000 4,000 21,000 (FO) SOCP) CFO) (SOCP) (SOCP) CFO) CSOCP) 482,000 9PLO) C.RM) Sales Return inward General office expenses Repairs to plant and machinery ( FU) CGOCP). Inventory at 1 January 2020: Raw materials C Rm) (SOCP). Work in process (Rmi CSUCP? Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable SOCP) (EG) (SOCP) 7,000 9,000 9,000 21,000 14,000 23,000 CSOGSIles: 37,000 457,000 (Financed vy . OE) CSOFP (SOFP) Cron-current asset) 410,000 CSOFP) Cnon- current aset) 80,000 CSOFP ) (cumeH assets 7 20,000 8,000 Accumulated provision for depreciation on plant and machinery Cost in hand 11,000 984,000 TОTAL 984,000 80,000 x 10%0 8000 8/000 + 8000 = 16,000 (accumulated dep bam) Prepared by: Puan Siti Nor Junita Mohd Radzi
Transcribed Image Text:b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020. a) Prepa 2. The following information taken from Jejai Limited: Debit Credit Particulars RM RM Purchase of raw materials Fuel and light Administration salaries (FO)OCP) Factory wages Carriage outwards CRM Rent and business rates 258,000 21,000 17,000 59,000 4,000 21,000 (FO) SOCP) CFO) (SOCP) (SOCP) CFO) CSOCP) 482,000 9PLO) C.RM) Sales Return inward General office expenses Repairs to plant and machinery ( FU) CGOCP). Inventory at 1 January 2020: Raw materials C Rm) (SOCP). Work in process (Rmi CSUCP? Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable SOCP) (EG) (SOCP) 7,000 9,000 9,000 21,000 14,000 23,000 CSOGSIles: 37,000 457,000 (Financed vy . OE) CSOFP (SOFP) Cron-current asset) 410,000 CSOFP) Cnon- current aset) 80,000 CSOFP ) (cumeH assets 7 20,000 8,000 Accumulated provision for depreciation on plant and machinery Cost in hand 11,000 984,000 TОTAL 984,000 80,000 x 10%0 8000 8/000 + 8000 = 16,000 (accumulated dep bam) Prepared by: Puan Siti Nor Junita Mohd Radzi
All Samsons Related From rusdi Rece> 13K A SHARE S SAVE Si Nurhaliza - Tradisional Alunan Si Nurhaliza (Official. TRADISIONAL 2 Required: a Statement of Cost of Production for the year ended 31 December 20o Statement of Profit or Loss and Other Comprehense Income for te year ended 31 December 2020. RM RM RM CTSha Manufacturers 45 000 10,000 sted answer: Production For The Year Ended 31 December 2020 150,000 000 Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials b. Work in process c. Finished goods RM25,000 RM11,000 ii. RM26,000 Depreciation of 10% on plant and machinery using the straight-line method i. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing Provision for doubtful debts: 5% of sundry accounts receivable. RM4,000 outstanding for fuel and light Rent and business rates paid in advance: RM5,000 Market value of finished goods: RM382,000 iv. V. vi. vi. 2020 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. 3. The following inf teling from 1oi Min Eptorpriee for the vear ended 3
Transcribed Image Text:All Samsons Related From rusdi Rece> 13K A SHARE S SAVE Si Nurhaliza - Tradisional Alunan Si Nurhaliza (Official. TRADISIONAL 2 Required: a Statement of Cost of Production for the year ended 31 December 20o Statement of Profit or Loss and Other Comprehense Income for te year ended 31 December 2020. RM RM RM CTSha Manufacturers 45 000 10,000 sted answer: Production For The Year Ended 31 December 2020 150,000 000 Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials b. Work in process c. Finished goods RM25,000 RM11,000 ii. RM26,000 Depreciation of 10% on plant and machinery using the straight-line method i. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing Provision for doubtful debts: 5% of sundry accounts receivable. RM4,000 outstanding for fuel and light Rent and business rates paid in advance: RM5,000 Market value of finished goods: RM382,000 iv. V. vi. vi. 2020 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. 3. The following inf teling from 1oi Min Eptorpriee for the vear ended 3
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