User Account

All Pages

Prepare statement of financial position for rainbow berhad

Assignment Help Financial Accounting
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

Questions Cloud

Determine current balance : The company debited prepaid rent and credited cash for 12,000. December 31 year end statement must be prepared. Determine current balance
Prepare net-present-value analysis of Orico replacement : Prepare net-present-value analysis of Orico's replacement decision, assuming an 8% hurdle rate and no income taxes. Should the machinery be acquired
Determine current balance : The company debited prepaid rent and credited cash for 12,000. December 31 year end statement must be prepared. Determine current balance
About the context and vision : Compile a document outlining your assumptions, definitions and ideas about the context and vision for each of the scenarios presented above.
Prepare statement of financial position for rainbow berhad : RM11,406,000 Total equity. Prepare Statement of Income and Statement of Financial Position for Rainbow Berhad for the financial year 2019.
Construct a budget sheet that helps in analyzing financial : Construct a budget sheet that helps in analyzing financial status, set goals, make changes, whatever the case may be. Provide the suitable example.
External environmental elements : What are the industry analysis factors, porter's 5 forces model elements, external environmental elements or competitor analysis
Summarize the content of the article : Summarize the content of the article. Discuss the concepts and how they appear, apply or are evidenced in the article.
Explain the definition of control in aasb consolidated : Explain the definition of control in AASB 10 Consolidated Financial Statements, explain whether or not Old Ltd has control of New Ltd and why

Reviews

Write a Review

Financial Accounting Questions & Answers

  Review the provisions of the sarbanes-oxley act

Review the provisions of the Sarbanes-Oxley Act of 2002 to address the accounting scandals in the late 1990s and early 2000s (Enron, WorldCom, etc.). Identify the provisions that you believe made the most significant impact.

  What is the expected return of stock a according to capm

The risk-free rate is 10%,The beta of stock A is 0.8 and its standard deviation is 20%. What is the expected return of stock A according to CAPM?

  Compute residual income for the division

Carter Company reported the following financial numbers for one of its divisions for the year; average total assets of $4,190,000; sales of $4,615,000; cost of goods sold of $2,640,000; and operating expenses of $1,462,000. Assume a target income of ..

  Recommend investing in burnfish plc

Bearing in mind the attached accounting spreadsheets and other information would you recommend investing in Burnfish plc. Bear in mind issues

  Show the treatment of interest under as

? 9,10,000 was charged by the bank for the financial year ending 31-30-2011. Show the treatment of interest under AS 16 and also explain the nature of Assets

  What interest rate would the investment have to yield

Stanley Roper has $2,500 that he is looking to invest. His brother approached him with an investment opportunity that could give Patrick $4,700 in 4 years. What interest rate would the investment have to yield in order for Stanley’s brother to delive..

  Tom brady shop began operations on 2nd january 2012 the

tom brady shop began operations on 2nd january 2012. the subsequent stock record card for footballs was taken from the

  Advantages and disadvantages of discounted cash flow methods

What are the advantages and disadvantages of discounted cash flow methods such as NPV and IRR?

  What does it mean for liability

What does it mean for liability on a negotiable instrument to be secondary liability and Under what doctrine should a party who is aware that an instrument is overdue take that instrument and acquire the rights of a holder in due course

  Transactions indicate what accounts are affected

For each of the following transactions indicate what accounts are affected, and which account gets the Debit or Credit. A Merchandiser "pays" for units previously purchased on an account with the Supplier.

  Recommend improvements in procedures

You have been asked by the board of trustees of a local church to review its accounting procedures. The church's board of trustees has delegated responsibility for financial management and the financial records to the finance committee. Describe the ..

  Total liabilities-stockholders equity-stockholders equity

Meower Corp. recieved a charter authorizing 120,000 shares of common stock at $15 par value per share. During the first year of operations, 40,000 shares were sold at $28 per share. 600 shares were issued in payment of a current operating debt of $18..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd