| A, B & Co. | ||||||
| Income Statement For The Year Ended 30 June 2009 | ||||||
| RM | ||||||
| Revenue | 595,000 | |||||
| Cost of sales | -195,490 | |||||
| Gross profit | 399,510 | |||||
| Other operating income | ||||||
| Interest income | 2,560 | |||||
| Distribution, administrative and other expenses | ||||||
| Carriage outward | – 25,897 | |||||
| Advertising and promotions | – 8,912 | |||||
| Water and electricity | – 5,612 | |||||
| Telephone and faxes | – 4,316 | |||||
| Salaries, allowances and overtime | – 81,091 | |||||
| Printing and stationery | – 1,253 | |||||
| Insurance | – 6,823 | |||||
| Depreciation of property, plant and equipment | – 32,686 | |||||
| -166,590 | ||||||
| Finance costs | ||||||
| Interest on borrowings | – 5,248 | |||||
| Net profit for the year | 230,232 | |||||
| Balance Sheet As At 30 June 2009 | ||||||
| RM | ||||||
| ASSETS | ||||||
| Non-current assets | ||||||
| Property, plant and equipment | 525,000 | |||||
| Current assets | ||||||
| Inventories | 55,148 | |||||
| Trade receivables | 85,643 | |||||
| Other receivables | 15,846 | |||||
| Cash and cash equivalents | 68,989 | |||||
| 249,664 | ||||||
| Total assets | 750,626 | |||||
| EQUITY AND LIABILITIES | ||||||
| Equity | ||||||
| Capital accounts | 250,000 | |||||
| Current accounts | 176,319 | |||||
| 426,319 | ||||||
| Non-current liabilities | ||||||
| Long-term borrowings | 150,000 | |||||
| Current liabilities | ||||||
| Trade payables | 58,464 | |||||
| Other payables | 65,843 | |||||
| Current portion borrowings | 50,000 | |||||
| 174,307 | ||||||
| Total liabilities | 324,307 | |||||
| Total equity and liabilities | 750,626 | |||||
| Statement Of Changes In Equity For The Year Ended 30 June 2009 | ||||||
| Capital Accounts | Current Accounts | |||||
| Partner A | Partner B | Partner A | Partner B | Appropriation | Total | |
| RM | RM | RM | RM | RM | RM | |
| Balance as at 1 July 2008 | 100,000 | 150,000 | – 8,546 | 94,633 | – | 336,087 |
| Net profit for the year | – | – | – | – | 230,232 | 230,232 |
| Partners’ salaries | – | – | 50,000 | 80,000 | -130,000 | – |
| Interest on capital | – | – | 10,000 | 15,000 | – 25,000 | – |
| Drawings | – | – | – 60,000 | – 80,000 | -140,000 | |
| Interest on drawings | – | – | – 6,000 | – 8,000 | 14,000 | – |
| Partners’ share of profit | – | – | 35,693 | 53,539 | – 89,232 | – |
| Balance as at 30 June 2009 | 100,000 | 150,000 | 21,147 | 155,172 | – | 426,319 |