п»їTUTORIAL eight & being unfaithful Solutions (Company Accounts (Part 2))

Q1.

7% Redeemable PS [300000*80%]

240, 1000

Premium in redemption [240000*0. 2]

forty eight, 000

Bank [240000*1. 2]

288, 000

Share Premium

48, 500

Premium upon redemption

twenty four, 000

Retained Earnings

240, 000

Capital redemption arrange

240, 000

Q2. Gembira Bhd

Assertion of Comprehensive Income for the year concluded 30 September 2010

RM'000

RM'000

Revenue

пѓј5, 2 hundred

Ccost of sales (W1)

(3, 248)

Gross revenue

1, 952

Selling and distribution bills (W1)

(489)

Administrative expenses (W1)

(1, 174. 5)

1, 663. 5

Working profit

288. 5

Financing cost (div RPS + Deb int = some. 5+24) (W2)

пѓјпѓј(28. 5)

Profit prior to tax

260

Income tax charge

пѓјпѓј(80)

Profit after tax

180

Other comprehensive income

Gain on revaluation

пѓј300

Total comprehensive salary

480

Gembira Bhd

Assertion of within equity pertaining to the year ended 30 September 2010

Share

capital

Talk about Premium

Retained

profit

Revaluation

reserves

Total

RM'000

RM'000

RM'000

RM'000

RM'000

Equilibrium @ 1/10/2009

2, 500пѓј

60пѓј

561пѓј

Nil

3, 121

Net profit to get the year

180пѓј

180

Temporary dividend paid out

(50) пѓј

(50)

Revaluation of area

300пѓј

300

Rights issue (W3)

125пѓј

6. 25пѓј

131. 25

Balance @ 30/9/2010

2, 625

sixty six. 25

691

300

3, 682. 25

Statement of Financial Position because at 30 September 2010

RM'000

RM'000

Non-current property

Property, herb & tools (W4)

three or more, 577

Current assets

Inventory

219

Trade receivables (478-8-23. 5)

446. your five

Prepayments

5

Bank (250000+131250)

381. 25

you, 051. 75

4, 628. 75

Equities & Liabilities:

Authorised Capital

Ordinary Stocks and shares @ RM2 each

9% Redeemable Desire Shares @ RM1 each

в€љ3, 500

в€љ80

Granted Capital

Ordinary share capital

2, 625

Talk about Premium

sixty six. 25

Revaluation reserves

300

Retained earnings

691

3, 682. 25

Non Current Liabilities

8% debentures

300

Deferred Taxation (130+10)

a hundred and forty

9% Redeemable Preference Shares

50

490

Current liabilities

Trade payables

375

Additional payables & accruals [1+5+13+10+2. 5]

23. 5

Tax payable

60

456. your five

4, 628. 75

Workings

W1

Cost of revenue

Administrative

Advertising &

division

RM'000

RM'000

RM'000

From trial harmony

381

300

Opening stocks

198

Acquisitions

three or more, 161

Carriage inwards

32

Closing inventories

(219)

Dep - Business office equipment

(2210*10%)

221

Carriage outwards (48+1)

49

Money owed (8+15)

3

Prov. pertaining to doubtful bills

5% * (478-8) - 18

your five. 5

Director's remuneration

thirty-five

Audit service fees

11

Income and salaries (695+5)

70

490

a hundred and forty

Sundry admin. Exp (13-5)

8

Total

3, 248

1, 174. 5

489

W2

Interest in 8% debentures = RM300, 000 times 8% sama dengan RM24, 000в€љв€љ

Thus, accrued debenture interest = RM10, 000 [24000-14000] в€љ

9% Redeemable Desire Shares

Gross = 9% * RM50, 000 sama dengan RM4, 500в€љв€љ

Final Gross on RPS = RM2, 500 [4500-2000] в€љ

W3 Rights issue of 1 share for every twenty shares

# of shares held prior to rights issue = you, 250, 500 # в€љв€љ No . of rights concern = sixty two, 500 # rights concern в€љ [1250000/20]

The arises from rights concern:

DrBank (62500*2. 10)RM131, 250в€љ

Cr Ordinary shares CapitalRM125, 000в€љ

CrShare PremiumRM 6th, 250в€љ

W4

Property, plant & products

Cost

RM'000

Acc. Dep. RM'000

Net Bk Worth RM'000

Property at value

2, 1000

0

two, 000в€љ

Office equipment

2, 210

633

1, 577в€љ

3, 577в€љ

Q3.

Sentosa Bhd

Statement...

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