Page 82 - Ebook Financial Accounting 3

• To write off 10% of Research and Development Cost.

• Auditors’ fee of RM36, 000.

• Directors’ remuneration of RM48, 000.

c) The directors propose the followings:
• To provide 3% for the final ordinary share dividends

• To transfer RM30, 000 to the general reserves.

You are required to prepare Statement of Comprehensive Income for the year ended 31

December 2020.

QUESTION 4.2

st
The following is the Trial Balance of Al Kayaraya Bhd as at 31 December 2019

Trial Balance of Al Kayaraya Bhd as at 31st December 2019

DEBIT (RM) CREDIT (RM)
Ordinary shares of RM1.00 each 180,000

General reserves 70,500

Retained profit 40,500
Premise at cost 270,000

Vehicle at cost 90,000

Accumulated depreciation for vehicle 37,500
Debentures 30,000

Sales 421,500
Purchase 228,750

Return inwards & outwards 5,250 2,250

Inventory (31 December 2018) 42,000
Carriage outward 4,500

Rental 1,500

Salaries 39,000
Insurance expenses 9,000

Electricity 6,450

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