Financial Accounting and Reporting Assignment

Financial Accounting and Reporting Assignment


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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