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A)
B)
(a) Loss on inventory write-down ( Other comprehensive income)
(b) Loss from strike ( Gross profit )
(c) Bad debt expense ( Expenses )
(d) Loss on disposal of a component of a business ( Other comprehensive income )
(e) Gain on sale of an machinery ( Other income and expense)
(f) Interest expense ( Finance cost )
(g) Depreciation expense ( Expenses )
(h) Interest revenue (Revenue under revenue and expense section )
1
Question 2)
2
Annur Bhd.
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 31 December 2018
RM RM
Discontinued Operation:
Profit from discontinued operations 23000
Net Profit for the financial year 2194000
3
b)
Annur Bhd
Statement of Financial Position
As at 31 December 2017
Assets:
Current assets:
Cash 4500000
Inventory 541000
Prepaid insurance (30000-15000) 15000
Trade Receivable (300000 + 150000) 450000
Short-term Investment 37000
Total current assets 5543000
Non-Current assets:
Building 25000000
(-) Accumulated depreciation 5000000 20000000
(4000000 +1000000)
Equipment 8000000
(-) Accumulated depreciation (3200000 + 4000000 4000000
800000)
Intangible assets 50000
Land 550000
Investment in associate companies 150000
Total non-current assets 24750000
TOTAL ASSETS: 30293000
Liabilities:
Current liabilities
Notes Payable 40% 400000
Bonds payable 30% 900000
Unearned service revenue 220000
Trade Payable 1030000
Salaries and wages payable 55000
(35000+20000)
Total current liabilities 2605000
Non-Current liabilities:
Bonds payable 70% 2100000
Notes payable 60% 600000
Long term finance lease liability 10497000
Total non-current liabilities 13197000
Total liabilities 15802000
Equity:
Retained earnings (4953000 + 2194000) 7147000
4
Share capital 7000000
Foreign translation reserve 43000
Revaluation reserve (51000 + 250000) 301000 14491000
TOTAL Liabilities & Equities 30293000
1. is expected to be realised in, or is held for sale or consumption in, the normal course of the
enterprise’s operating cycle.
2. is held primarily for trading purposes or for the short term and expected to be realised within
twelve months of the balance sheet date;
5
Question 3
6
b)
(-) Expenses
Deprecition Expenses (8000 +875) 8875
Office Expense 5245
Utility Expense 7600
Salary and Wages Expense (34472 + 28050) 62522
Bonus Expense 50000
Total Expenses 134242
(47854)
Other Incomes and Expenses
Interest Income 6000
(-) Interest Expense (5400)
Loss on Disposal of Equipment (5528) (4928)
Loss Before Tax (52782)
(-) Income Tax Expense (11600)
Loss After Tax (64382)
7
c)
Wendy’s Smile Bhd
Statement of Financial Position
As at 31 January 2018
Assets: RM RM RM
Current assets:
Deposits, Cash and Bank balances 35383
Trade Receivables 86555
(-) Allowance for Doubtful Debts (12104) 74451
Prepaid Insurance 1022
Total Current Assets 110856
Current Liabilities :
Trade Payable (41019 + 4250) 45269
Salary and Wages Payables (25000 - 4950) 20050
Unearned Revenue (35100 + 11245) 46345
Bonus Payable 50000
Total Current Liabilities 161664
Non-Current Liabilities :
Notes Payable (12000 – 10000) 2000 2000
Equity :
Share Capital- Ordinary shares 31019
Retained Earnings (78200 – 64382) 13818
Reserves (9800 + 4000) 13800
8
58637
222301