Page 83 - Ebook Financial Accounting 3

Advertising 7,500

Directors’ emoluments 18,000
Debtors & Creditors 36,000 25,500

Interim dividend 18,000

Cash at bank 19,500
Cash in hand 1,800

Goodwill 10,500

807,750 807,750

Additional information:

1. Inventories as at 31 December 2019 are valued at RM45,000.

2. Provision depreciation for vehicle is 20% on cost.
3. Debenture interest RM2,400 has not been paid.

4. Tax rate is 28%.

5. The board of directors decided the following:
i. Transfers RM7,500 to general reserves.

ii. Goodwill to be written off.
iii. Declared ordinary dividends of 10%.

You are required to:

st
a) Prepare the Statement of Comprehensive Income for year ended 31 December 2019.
st
b) Prepare the Statement of Changes in Equity for the year ended 31 December 2019.
st
c) Construct the Statement of Financial Position as at 31 December 2019.

77