Question The following data is provided for Bonia Bhd. Use the following data to prepare the balance sheet for Bonia Bhd

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Question The Following Data Is Provided For Bonia Bhd Use The Following Data To Prepare The Balance Sheet For Bonia Bhd 1 (45.8 KiB) Viewed 9 times

Question The following data is provided for Bonia Bhd. Use the following data to prepare the balance sheet for Bonia Bhd as at December 31, 2021. All data and information pertain to fiscal year 2021 unless otherwise stated. • Retain earnings as at December 31, 2020 is RM 234,000. Sales (all credit sales) are RM 2,500,000. Days to sell Inventory is 20. Cash on hand is 1% of sales. All sales are paid 30 days after purchase. Non-current assets are RM 1,000,000. . Required Long-term debt to equity ratio is 1. All liabilities, other than long-term debt, are short-term liabilities 20,000 shares outstanding issued at RM10.00 in 2020. No dividends paid. Gross margins is 40%. Net profits margin is 8%. Assume there are 360 days in the year. 8 Prepare the balance sheet as at December 31, 2021 for Bonia Bhd. Show all relevant workings to support your answer. Relevant Workings Construction of Balance Sheet (12 marks) (13 marks) (Total 25 marks)