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Group Assignment B - Amni - Merc - Lioni

The document is a group assignment submitted by 3 students for a financial accounting and reporting course. It contains the annual financial statements of Aventurine Bhd for the year ended 30 June 2022, including the statement of profit or loss and other comprehensive income, statement of changes in equity, and notes on property, plant, and equipment. The financial statements show that Aventurine Bhd generated a profit for the year of RM21.2 million with total comprehensive income of RM23.2 million.

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Amni
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96 views5 pages

Group Assignment B - Amni - Merc - Lioni

The document is a group assignment submitted by 3 students for a financial accounting and reporting course. It contains the annual financial statements of Aventurine Bhd for the year ended 30 June 2022, including the statement of profit or loss and other comprehensive income, statement of changes in equity, and notes on property, plant, and equipment. The financial statements show that Aventurine Bhd generated a profit for the year of RM21.2 million with total comprehensive income of RM23.2 million.

Uploaded by

Amni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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FACULTY OF ACCOUNTANCY

FAR460
FINANCIAL ACCOUNTING AND REPORTING 2

GROUP ASSIGNMENT B
PUBLISHED FINANCIAL STATEMENTS

Prepared By:
Amni Syazwani Binti Azman 2022368861
Merclylyna Velina Marvin 2022361421
Lioni Channie Steffani Step Eyezaniza 2022804376

Prepared For:
Madam Roslida Binti Ramlee

Date of Submission:
31st January 2023
AVENTURINE BHD
Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June
2022
RM RM
Revenue 60,467,000.00
Cost of sales (22,380,000.00)
Gross Profit 38,087,000.00
Other income 4,862,000.00
Administrative expenses (11,050,000.00)
Distribution cost (3,630,000.00)
Finance cost 532,000.00
Profit Before Tax 28,801,000.00
Taxation expense (7,600,000.00)
Profit for the year 21,201,000.00
Other Comprehensive income:
Add: Surplus on revaluation of building 2,000,000.00
Total Comprehensive Income 23,201,000.00

Working Administrative expenses


As per trial balance 6,820,000.00
Deficit on revaluation of land 700,000.00
Depreciation:
Building [40years]
Plant and machinery [10%] 500,000.00 1,580,000.00
Director remuneration 1,080,000.00 350,000.00
Maintenance cost [500,000 - 180,000] 320,000.00
Impairment loss of intangible assets 1,280,000.00
11,050,000.00

Working Other Income RM


Rental Income 2,330,000.00
Investment income 1,332,000.00
Gain on change Fair value of investment property 1,000,000.00
Compensation of damages 200,000.00
4,862,000.00
AVENTURINE BHD
Statement of Changes in Equity for the year ended 30 June 2022
Ordinary Preference Revaluation Retained
Shares Shares Reserve Earnings
Bal as at 1July 2021 28,000,00 - - 48,412,000
0
Prior Year Adjustment (200,000)
PYA- Depreciation Overstated
Restated Balance 28,000,00 - - 48,212,000
0
Profit of the year 21,201,000
Deficit - Land (700,000)
Surplus - Building 2,000,000
Surplus on revaluation
Dividend 880,000 220,000
Bal as at 30 June 2022 28,880,00 - 1,300,000 69,633,000
0
AVENTURINE BHD
Statement of Financial Position as at 30 June 2022
RM RM
Non -current asset
Property plant and equipment 61,222,000
Investment property
Biological asset

Current Asset
Cash and cash equivalent
Accounts receivable
Inventory
Tax recoverable (3,)

TOTAL ASSETS

Equity and liabilities


Share Capital (OSC + PSC)
Reserves
Retained earnings
Total shareholder’s equity

Non-Current liabilities
Long-term loan

Current liabilities
Accounts payable
Accrued interest on loan
Provision for restructuring

TOTAL EQUITY AND LIABILITIES


Note on PPE
Land Building Plant and Total
Machinery
Cost/Valuation RM RM RM
Bal as at 1/7/2021 38,000,000 20,000,000 10,800,000
Addition - -
Disposal - -
Revaluation Surplus - 2,000,000
Revaluation Deficit (700,000)
Transfer to - -
Transfer from - -
Elimination of Accumulated (4,000,000) (3,720,00)
Depreciation against valuation
Bal as at 30/6/2022 37,300,000 18,000,000 7,080,000 62380000

Accumulated Depreciation
Bal as at 1/7/2021 - 4,000,000 3,720,000
Charge for the year 450,000 708,000
(depreciation)
Elimination of AD against (4,000,000) (3,720,000)
valuation
Bal as at 30/6/2022 - 450,000 708,000 1158000

Accumulated Impairment
Loss
Impairment Loss - - -

Carrying Value (C-AD-AIM) 37,300,000 17,550,000 6,372,000 61222000

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