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Additional information: i. Inventory at 31 December 2020: a. Raw materials RM2,900 b. Finished goods 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 RM8,200 RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office 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. 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.

Additional information: i. Inventory at 31 December 2020: a. Raw materials RM2,900 b. Finished goods 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 RM8,200 RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office 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. 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.

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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Carriage outwards Plant and machinery, a cost less depreciation Car, at cost less depreciation Bank Cash in hand Account receivable and account payable 375 9,100 4,200 3,600 325 7,700 112,600 112,600 6,000 TOTAL Additional information: i. Inventory at 31 December 2020: a. Raw materials b. Finished goods ii. Depreciation for the year is to be charged as follows: a. Plant and machinery b. Car ii. At 31 December 2020 insurance paid in advance was RM150 and office general RM2,900 RM8,200 RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office Insurance are to be apportioned: % Factory 4 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. 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.
Transcribed Image Text:Carriage outwards Plant and machinery, a cost less depreciation Car, at cost less depreciation Bank Cash in hand Account receivable and account payable 375 9,100 4,200 3,600 325 7,700 112,600 112,600 6,000 TOTAL Additional information: i. Inventory at 31 December 2020: a. Raw materials b. Finished goods ii. Depreciation for the year is to be charged as follows: a. Plant and machinery b. Car ii. At 31 December 2020 insurance paid in advance was RM150 and office general RM2,900 RM8,200 RM1,500 RM500 expenses unpaid were RM75 iv. Lighting and rent are to be apportioned :4/5 Factory, 1/5 Office Insurance are to be apportioned: % Factory 4 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. 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 followir trial balance was extracted from her books on 31 December 2020: Particulars Debit RM Credit RM Capital Drawings Sales Inventory at 1 January 2020: Raw materials Finished goods Purchased of raw materials 15,000 2,000 90,000 3,400 6,100 18,000 800 Carriage inwards Factory wages Office salaries 18,500 16,900 10,400 Jojomat: Salary and expenses General expenses: Factory 1,200 750 2,500 3,750 950 Office Lighting Rent Insurance Advertising Bad debts Discount received 1,400 650 1,600 Prepared by: Puan Siti Nor Junita Mohd Radzi Current ligbilif Account paya
Transcribed Image Text:5. Jojomat Ltd owns a small business making and selling children's toys. The followir trial balance was extracted from her books on 31 December 2020: Particulars Debit RM Credit RM Capital Drawings Sales Inventory at 1 January 2020: Raw materials Finished goods Purchased of raw materials 15,000 2,000 90,000 3,400 6,100 18,000 800 Carriage inwards Factory wages Office salaries 18,500 16,900 10,400 Jojomat: Salary and expenses General expenses: Factory 1,200 750 2,500 3,750 950 Office Lighting Rent Insurance Advertising Bad debts Discount received 1,400 650 1,600 Prepared by: Puan Siti Nor Junita Mohd Radzi Current ligbilif Account paya
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