4Chapter : Manufacturing Accounting 4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows:ParticularsDebitCreditRM1,760RMDelivery van expensesLighting and heating:FactoryOfficeManufacturing wagesGeneral expenses:FactoryOfficeSales representatives : CommissionPurchase of raw materials7,2201,49072.1008,1001,04011,68857.210Rent:FactoryOffice6,1002,700Machinery (Cost: RM40,000Office equipmant ( RM9,000)Office salariesAccounts receivablesAccount payablesBankSalesVan (cost RMB.800)Inventory at 31 December 2020:Raw materialsFinished goodsDrawingsCaptal28,6008,20017,74034,2009.40016,142194,8006,20013,26041,30024,200155.950TOTAL360,150 360,150Additional information:i. Inventory at 31 December 2020:a. Raw materialsb. Finished goodsii. Depreciate machinery RM3,000; affice equipment RM6,000; van RM1,200ii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rentprepaid RM140RM14,510RM44,490Required: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.

The branch of accounting which deals in recording of the manufacturing process of the goods is known…

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.

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Chapter : Manufacturing Accounting

4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows:
Particulars
Debit
Credit
RM
1,760
RM
Delivery van expenses
Lighting and heating:
Factory
Office
Manufacturing wages
General expenses:
Factory
Office
Sales representatives : Commission
Purchase of raw materials
7,220
1,490
72.100
8,100
1,040
11,688
57.210
Rent:
Factory
Office
6,100
2,700
Machinery (Cost: RM40,000
Office equipmant ( RM9,000)
Office salaries
Accounts receivables
Account payables
Bank
Sales
Van (cost RMB.800)
Inventory at 31 December 2020:
Raw materials
Finished goods
Drawings
Captal
28,600
8,200
17,740
34,200
9.400
16,142
194,800
6,200
13,260
41,300
24,200
155.950
TOTAL
360,150 360,150
Additional information:
i. Inventory at 31 December 2020:
a. Raw materials
b. Finished goods
ii. Depreciate machinery RM3,000; affice 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.

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