The following is extracted trial balance of Grey Grig Ltd as at 30 June 2019. Grey Grig Ltd Trial Balance as at 30 June 2019Particulars Debit (RM) Credit (RM)Equipment rental 940 Insurance 1,804 Lighting and heating expenses 1,990 Motor expenses 2,350 Salaries and wages 48,580 Sales 382,420Purchase 245,950 Sundry expenses 624 Lorry 19,400 Account payable 23,408Account receivable 44,516 Fixtures 4,600 Shop 174,000 Cash at bank 11,346 Drawings 44,000 Capital 194,272TOTAL 600,100 600,100Inventory at 30 June 2019 was RM29,304. Required: Statement of Financial Position as 30 June 2019

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Answered: receivable 44,516 Fixtures 4,600…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following is extracted trial balance of Grey Grig Ltd as at 30 June 2019.

Grey Grig Ltd Trial Balance as at 30 June 2019
Particulars	Debit (RM)	Credit (RM)
Equipment rental	940
Insurance	1,804
Lighting and heating expenses	1,990
Motor expenses	2,350
Salaries and wages	48,580
Sales		382,420
Purchase	245,950
Sundry expenses	624
Lorry	19,400
Account payable		23,408
Account receivable	44,516
Fixtures	4,600
Shop	174,000
Cash at bank	11,346
Drawings	44,000
Capital		194,272
TOTAL	600,100	600,100

Inventory at 30 June 2019 was RM29,304.

Required:

Statement of Financial Position as 30 June 2019

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