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FAR460 - Financial Accounting and Reporting Assignment
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1. Sitoshi Bhd is a soft toys making factory for domestic and foreign markets. The trial balance of Sitoshi Bhd as at 31 December 2020 is shown below;
| Debit (RM) | Credit (RM) | |
| 10% Long term loan | 645,250 | |
| Ordinary share capital | 2,000,000 | |
| Preference share capital | 1,750,000 | |
| Directors’ remuneration | 70,000 | |
| Sales revenue | 4,227,900 | |
| Investment | 3,000,000 | |
| Tax paid | 389,000 | |
| General reserve | 90,000 | |
| Building | 1,850,000 | |
| Motor van | 68,000 | |
| Plant & machinery | 250,000 | |
| Freehold land | 830,000 | |
| Administrative expenses | 640,000 | |
| Interest on long term loan | 15,000 | |
| Interim dividend paid – ordinary shares | 33,000 | |
| Wages and salaries | 165,000 | |
| Advertising expenses | 54,575 | |
| Rental income | 55,000 | |
| Cash at bank | 485,000 |
2. Pedro Bhd is a public listed is a company in Malaysia and principally operates in two geographical segments: Malaysia and South East Asia other than Malaysia. The Company's products and services include aluminum billets and home furnishing products.
The following information relates to the Statement of Financial Position and Notes to the Property Plant and Equipment of the company:
| 2020 RM’000 | 2019 RM’000 | |
| Non-Current Assets | ||
| Property, plant and equipment | 304,000 | 281,000 |
| Investment in shares | 55,000 | 25,000 |
| Current Assets | ||
| Inventories | 77,000 | 87,000 |
| Trade receivables | 69,000 | 68,000 |
| Cash at bank | 20,000 | - |
| Short-term deposits | 16,000 | - |
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