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Prepare statement of financial position for rainbow berhad

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Reference no: EM132563448

Table below shows the financial information for Rainbow Berhad in 2019. Stocks as at 31 December 2019 is RM328,500. Corporate tax is 24 percent.

  1. RM11,406,000 Total equity
  2. RM263,000 Trade debtors
  3. RM1,899,000 Long term borrowings
  4. RM4,942,500 Sales (credit)
  5. RM189,000 Cash
  6. RM61,000 Interest expenses
  7. RM326,000 Trade creditors
  8. RM672,500 Purchases (credit)
  9. RM136,500 Stock (Opening)
  10. RM12,907,500 Fixed assets
  11. RM686,000 Operating expenses
  12. RM57,000 Short term borrowings

Question 1: Prepare Statement of Income and Statement of Financial Position for Rainbow Berhad for the financial year 2019.

Reference no: EM132563448

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