Question

A company’s accounts balance as at 30 June 2014 is shown in Table Q2 and the company’s total revenue is RM 1,000,000: Table Q2 Description RM Cost of Goods Sold 426,200 Accounting and legal fees 11,700 Advertising 15,000 Depreciation 38,000 Electricity 2,700 Insurance 15,200 Interest and bank charges 27,300 Postage 1,500 Printing and stationery 8,700 Professional memberships 1,800 Rent for premises 74,300 Repairs and maintenance 21,100 Training 6,900 Vehicle operating costs 20,000 Wages and salaries 223,500 Workers compensation 6,500 All other expenses 14,100 Prepare the income statement for the year ended 30 June 2014.

Answer 1