FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following additional information is to be taken into consideration:
i. Increase in provision for doubtful debts to RM3,610
il. Depreciation for the year:
a. Plant and machinery
RM25,700
RM15,300
b. Vehicles
i. Accrued expenses:
a. Rent and rates
b. Electricity and water
iv. Expenses paid in advance:
a. Salaries and wages
RM1,000
RM4,800
RM4,500
b. Insurance
v. Inventory on 31 Mac 2020 was RM42,800.
RM5,000
Required:
a) Prepare the Statement Profit or Loss and Other Comprehensive Income for the
year ended 31 Mac 2020.
b) Prepare the Statement of Financial Position as at 31 Mac 2020.
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Transcribed Image Text:The following additional information is to be taken into consideration: i. Increase in provision for doubtful debts to RM3,610 il. Depreciation for the year: a. Plant and machinery RM25,700 RM15,300 b. Vehicles i. Accrued expenses: a. Rent and rates b. Electricity and water iv. Expenses paid in advance: a. Salaries and wages RM1,000 RM4,800 RM4,500 b. Insurance v. Inventory on 31 Mac 2020 was RM42,800. RM5,000 Required: a) Prepare the Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac 2020. b) Prepare the Statement of Financial Position as at 31 Mac 2020.
4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31
Мас 2020:
Particulars
Debit
Credit
RM
950,000
RM
Purchases and Sales
Plant and machinery
Vehicles
Land and building
|Accumulated depreciation:
Plant and machinery
Vehicles
Discount allowed and discount received
Returns inwards and returns outwards
|Carriage inwards
Carriage outwards
Custom duties
Drawings
Provision for doubtful debts
Salaries and wages
Electricity and water
Rent and rates
Insurance
Mortgage on land and building
Repairs and maintenance
Commission earned
Accounts receivables
Account payable
Inventory – 1 April 2019
Cash at bank
Capital
377,000
432,000
102,000
625,000
175,000
39,000
760
1,500
44,000
4,700
5,500
15,400
3,600
12,200
2,000
300,000
65,000
4,000
55,000
450,000
6,300
95,000
187,000
166,500
51,000
41,100
429,640
2,320,100 2,320,100
TOTAL
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Transcribed Image Text:4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Мас 2020: Particulars Debit Credit RM 950,000 RM Purchases and Sales Plant and machinery Vehicles Land and building |Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards |Carriage inwards Carriage outwards Custom duties Drawings Provision for doubtful debts Salaries and wages Electricity and water Rent and rates Insurance Mortgage on land and building Repairs and maintenance Commission earned Accounts receivables Account payable Inventory – 1 April 2019 Cash at bank Capital 377,000 432,000 102,000 625,000 175,000 39,000 760 1,500 44,000 4,700 5,500 15,400 3,600 12,200 2,000 300,000 65,000 4,000 55,000 450,000 6,300 95,000 187,000 166,500 51,000 41,100 429,640 2,320,100 2,320,100 TOTAL
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