Champion Bhd has the following list of account balances as at 30 June 2021. Sales...
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Accounting
Champion Bhd has the following list of account balances as at 30 June 2021. Sales Cost of goods sold Inventory at 31 Dec 2020 Employee salaries Directors' emoluments Depreciation expenses- equipment Tax paid Debenture interest paid Utilities Interim dividends paid: Preference dividends Ordinary dividends RM 60,000,000 25,000,000 4,500,000 7,500,000 1,200,000 560,000 4,900,000 300,000 3,100,000 60,000 100,000 8% Debentures 5% Redeemable Preference shares Ordinary shares Retained earnings 5,000,000 2,000,000 6,000,000 360,000 Additional information: Audit fees of RM90,000 has not been provided for. Taxation charged for the current financial year is finalised to be RM5,100,000. Transfer to deferred tax is RM1,100,000. Required: Prepare the Statement of Profit or Loss for the year ended 30 June 2021. Computation of appropriation is not required. (12 marks)
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