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Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries Sales representative salaries Commission on sales 21,000 38,900 13,500 325,000 7,000 3,500 370.000 230,000 12.000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Rent Insurance General administration expenses Bank charges Discount allowed Carriage outwards 1,000,000 64,000 Sales Account receivable and accounts payable 142,300 Bank Cash Drawings Capital as at 1 Jan 2020 16,800 1,500 60,000 357,800 TOTAL 1,421,800 1,421,800 Additional information: i. Inventory of raw materials RM24,000; inventory of finished goods RM40,000; wor in progress RM 15,000 ii. Lighting, rent and insurance are to be apportioned; factory 5/6, administration 1/6 iii. Depreciation on productive machinery and administration computers at 10% pe annum on cost Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.

Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries Sales representative salaries Commission on sales 21,000 38,900 13,500 325,000 7,000 3,500 370.000 230,000 12.000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Rent Insurance General administration expenses Bank charges Discount allowed Carriage outwards 1,000,000 64,000 Sales Account receivable and accounts payable 142,300 Bank Cash Drawings Capital as at 1 Jan 2020 16,800 1,500 60,000 357,800 TOTAL 1,421,800 1,421,800 Additional information: i. Inventory of raw materials RM24,000; inventory of finished goods RM40,000; wor in progress RM 15,000 ii. Lighting, rent and insurance are to be apportioned; factory 5/6, administration 1/6 iii. Depreciation on productive machinery and administration computers at 10% pe annum on cost Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter9: Working Capital
Section: Chapter Questions
Problem 30E
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Chapter : Manufacturing Accounting

1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries 21,000 38,900 13,500 325,000 7.000 3,500 370.000 230.000 12,000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 Sales representative salaries Commission on sales Rent Insurance General administration expenses Bank charges 13,400 2,300 4,800 5,900 Discount allowed Carriage outwards 1,000,000 64,000 Sales Account receivable and accounts payable Bank Cash 142,300 16,800 1.500 Drawings Capital as at 1 Jan 2020 60,000 357.800 1,421,800 1,421,800 TOTAL adzi Additional information: i. Inventory of raw materials RM24,000; inventory of finished goods RM40,000; work. in progress RM15,000 ii. Lighting, rent and insurance are to be apportioned; factory 5/6, administration 1/6 i. Depreciation on productive machinery and administration computers at 10% per annum on cost Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
Transcribed Image Text:1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries 21,000 38,900 13,500 325,000 7.000 3,500 370.000 230.000 12,000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 Sales representative salaries Commission on sales Rent Insurance General administration expenses Bank charges 13,400 2,300 4,800 5,900 Discount allowed Carriage outwards 1,000,000 64,000 Sales Account receivable and accounts payable Bank Cash 142,300 16,800 1.500 Drawings Capital as at 1 Jan 2020 60,000 357.800 1,421,800 1,421,800 TOTAL adzi Additional information: i. Inventory of raw materials RM24,000; inventory of finished goods RM40,000; work. in progress RM15,000 ii. Lighting, rent and insurance are to be apportioned; factory 5/6, administration 1/6 i. Depreciation on productive machinery and administration computers at 10% per annum on cost Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
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