The following is the Trial Balance for Qaseh Sdn. Bhd.

as at 31 December
2022:

Qaseh Sdn. Bhd.

Trial Balance as at 31 December 2022
Debit Credit
(RM) (RM)
Ordinary share RM1 150,000
50% Preference share RM1 10,000
General reserves 8,000
Retained profits as at 31 December 2022 27,300
Inventory at 1 January 2022 33,235
Sales 481,370
Purchases 250,270
Returns outwards 12,460
Returns inwards 13,810
Carriage outwards 4,260
Maintenance 50,380
Salesmen’s salaries 32,145
Administrative wages and salaries 30,470
Plant and machinery 62,500
Hire of motor vehicles 9,600
Accumulated depreciation - Plant and 24,500
Machinery
Goodwill 47,300
General distribution expenses 2,840
General administration expenses 4,890
Directors’ remuneration 14,800
Rent received 3,600
Accounts receivables 164,150
Cash at bank 30,870
Accounts payables 34,290
751,520 751,250

Additional information:

(i) Inventory on 31 December 2022 is valued at RM45,890.

(ii) Plant and machinery is to be depreciated at 20% straight line. 60% of

the depreciation related to distribution expenses and remaining 40%
related to administrative expenses.
(iii) Hire of motor vehicles is to be split of RM6,200 to distribution expenses
and RM3,400 to administrative expenses.

(iv) Audit fees of RM600 is still accrued.

(v) Provision of corporation tax on current year profit is RM9,370.

(vi) The directors proposed to declare a final dividend on the ordinary

shares of RM0.30 per share and preference shares RM0.50 per share.

(vii) RM1,500 to be transferred to general reserves for future usage.

Required to prepare (Show all workings):

(a) Statement of Profit or Loss for the year ended 31 December 2022.

(b) Extract Statement of Financial Position as at 31 December 2022 for

liabilities items.

(c) Statement of Changes in Equity for the year ended 31 December

2022.