question archive The following is the list of account balances for Hamburg Berhad as at 31 December 2019 RM'00 0 RM100 0 450 200 202 171 430 830 1,125 50 sen ordinary shares (fully paid) 10% debentures (secured) Retained earnings 1

The following is the list of account balances for Hamburg Berhad as at 31 December 2019 RM'00 0 RM100 0 450 200 202 171 430 830 1,125 50 sen ordinary shares (fully paid) 10% debentures (secured) Retained earnings 1

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The following is the list of account balances for Hamburg Berhad as at 31 December 2019 RM'00 0 RM100 0 450 200 202 171 430 830 1,125 50 sen ordinary shares (fully paid) 10% debentures (secured) Retained earnings 1.1.2019 General reserve 1.1.2019 Land and Building 1.1.2019 (cost) Plant and machinery 1.1.2019 (cost) Motor Vehicle 1.1.2019 (cost) Accumulated depreciation: Buildings 1.1.2019 Plant and Machinery 1.1.2019 Motor Vehicles 1.1.2019 Inventories – raw materials on 1.1.2019 Work in progress on 1.1.2019 Inventories-finished goods on 1.1.2019 Carriage inwards Manufacturing wages Manufacturing overhead 20 222 375 190 45 150 8 165 80 Sales 5,033 Purchases-raw materials Ordinary dividend paid Debenture interest Wages and salaries Light and heat Sundry expenses Carriage outwards Salesmen's salaries Distribution costs Suspense account Trade account receivable Trade accounts payable Cash 1,712 15 10 254 31 113 125 800 290 135 501 192 126 7,000 7,000 Additional information: 1. Sundry expenses include RM4,000 paid in respect of insurance for the year ending 31 August 2020. Light and heat does not include an invoice of RM2,000 for electricity for the three months ending 31 December 2019, which was paid in February 2020. Light and heat also includes RM20,000 relating to salesmen's commission. 2. The suspense account is in respect of the following items. Proceeds from the issue of 100,000 ordinary shares Proceeds from sale of plant RM'000 120 300 420 285 135 Less: Acquisition of equipment 3. The property was acquired some years ago. The building element of the cost was estimated at RM100,000 and the estimated useful life of the assets was fifty years at the time of purchase. As at 31 December 2019, the property is to be revalued at RM800,000. The plant which was sold had cost RM350,000 and had a net book value of RM274,000 as on 1/1/2019. RM36,000 depreciation is to be charged on plant and machinery for 2019. 4. 5. The management wish to provide for: Debenture interest due A transfer to general reserve of RM10,000 Audit fees of RM4,000 Depreciation on equipment is to be charged at 10% per year using straight line method on the basis of full year depreciation given in the year of purchase. Depreciation of motor vehicles at 15% reducing balance method on the basis of full year depreciation given in the year of purchase. 6. Income tax on the profits for the year is estimated at RM80,000 and is due for payment on 31 July 2019. 7. Inventory as at 31 December 2019 were: Raw materials Finished goods Work in progress RM 100,000 80,000 50,000 Required:

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