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The following are the trial balance (extract) relates to Jasnee Bhd. as of 1 April 2019. Ordinary shares Retained earnings Revaluation reserve Land and building at cost Motor vehicle at cost Accumulated depreciation of building Accumulated depreciation of motor vehicle RM'000 300,000 150,000 RM'000 220,000 10,600 30,000 36,000 30,400

The following are the trial balance (extract) relates to Jasnee Bhd. as of 1 April 2019. Ordinary shares Retained earnings Revaluation reserve Land and building at cost Motor vehicle at cost Accumulated depreciation of building Accumulated depreciation of motor vehicle RM'000 300,000 150,000 RM'000 220,000 10,600 30,000 36,000 30,400

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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(Question 3) The following are the trial balance (extract) relates to Jasnee Bhd. as of 1 April 2019. Ordinary shares Retained earnings Revaluation reserve Land and building at cost Motor vehicle at cost Accumulated depreciation of building Accumulated depreciation of motor vehicle Additional information: (1) RM'000 300,000 150,000 RM'000 220,000 10,600 30,000 36,000 30,400 The profit before tax for 2020 and 2021 is RM19 million and RM25 million, respectively. Tax is 25%. (ii) The cost of building is 60% and land 40%. Jasnee Bhd had revalued its building and land on year 2020. The revalued amount is RM170 million and RM130 million for building and land, respectively. (iii) In year 2021, the revalued amount of building is RM180 million and land RM160 million. Required: (iv) On 1 May 2019, the company had issued one-for-four right issue shares at a price of RM2 each. (v) Due to a new project received by the company. 10 million ordinary shares were issued amounting RM20 million on 9 January 2020. (vi) On 1 March 2020, the company bought back 7 million of its ordinary shares amounting RM7 million. On 1 November 2020, the company issue 3 million ordinary shares. The price of the share was RM2 each. (vii) The company paid dividend of RM2.5 million and RM2.9 million for year 2019 and 2020, respectively. Prepare the Statement of Changes in Equity for the year ended 31 March 2020 and 2021.
Transcribed Image Text:(Question 3) The following are the trial balance (extract) relates to Jasnee Bhd. as of 1 April 2019. Ordinary shares Retained earnings Revaluation reserve Land and building at cost Motor vehicle at cost Accumulated depreciation of building Accumulated depreciation of motor vehicle Additional information: (1) RM'000 300,000 150,000 RM'000 220,000 10,600 30,000 36,000 30,400 The profit before tax for 2020 and 2021 is RM19 million and RM25 million, respectively. Tax is 25%. (ii) The cost of building is 60% and land 40%. Jasnee Bhd had revalued its building and land on year 2020. The revalued amount is RM170 million and RM130 million for building and land, respectively. (iii) In year 2021, the revalued amount of building is RM180 million and land RM160 million. Required: (iv) On 1 May 2019, the company had issued one-for-four right issue shares at a price of RM2 each. (v) Due to a new project received by the company. 10 million ordinary shares were issued amounting RM20 million on 9 January 2020. (vi) On 1 March 2020, the company bought back 7 million of its ordinary shares amounting RM7 million. On 1 November 2020, the company issue 3 million ordinary shares. The price of the share was RM2 each. (vii) The company paid dividend of RM2.5 million and RM2.9 million for year 2019 and 2020, respectively. Prepare the Statement of Changes in Equity for the year ended 31 March 2020 and 2021.
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