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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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