5. The following trial balance was extracted from the books of Fasuha Trading as at 31December 2020.ParticularsDebitCreditRMRMOffice equipmentMotor vehiclesFurnitureAccumulated depreciation as at 1 January 2020:Office equipmentMotor vehiclesFurnitureAccount receivables and account payablesСaptal12,2509,1503,6002,4501,3731,0603,63229,6086,8606% loan to Rara2,50019,110 31,560175Purchases and salesDiscount215AdvertisingCash in hand|Provision for doubtful debtsCommission received| 6% loan from Afina Bank (taken from 1 May 2020)4,2501,6303007408,0007001,2001,9001,2604,0051,0005,270210250RentDrawingsMaintenance and petrolStaff's wagesInsurance|Cash at bankCarriage inwardsCarriage outwardsTelephone and electricityDuties on purchasesReturnsInventory as at 1 January 20206109151101123,41579,710 79,710TОTAL The following adjustment are to be taken into account:a. Inventory as at 31 December 2020 was valued at RM2,600b. The interest on the loan taken from Afina bank was not recorded in the accounts.c. Prepaid RM300 of the insurance premiumsd. Prepaid RM125 of the telephone and electricity bills.e. Depreciation was provided using the rates as follows:i. Office equipmentii. Motor vehiclesiii. Furnituref. Bad debts of RM110 to be written off20% p.a on carrying value15% p.a on cost10% p.a on costg. The provision for doubtful debts was to be adjusted to 2.5% of the remainingaccount receivablesh. Fasuha had drawn RM150 cash from the business to spend on his son's birthday.Required:a) Prepare the Statement Profit or Loss and Other Comprehensive Income for theyear ended 31 December 2020.b) Prepare the Statement of Financial Position as at 31 December 2020

Name: 5. The following trial balance was extracted from the books of Fasuha
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Description: 5. The following trial balance was extracted from the books of Fasuha Trading as at 31December 2020.ParticularsDebitCreditRMRMOffice equipmentMotor vehiclesFurnitureAccumulated depreciation as at 1 January 2020:Office equipmentMotor vehiclesFurnitur

Business

Accounting

5. The following trial balance was extracted from the books of Fasuha Trading as at 31 December 2020. Particulars Debit Credit RM RM Office equipment Motor vehicles Furniture Accumulated depreciation as at 1 January 2020: Office equipment Motor vehicles Furniture Account receivables and account payables |Capital 6% loan to Rara 12,250 9,150 3,600 2,450 1,373 1,060 3,632 29,608 6,860 2,500 19,110 31,560 215 4,250 1,630 Purchases and sales Discount | Advertising Cash in hand Provision for doubtful debts Commission received 6% loan from Afina Bank (taken from 1 May 2020) Rent Drawings Maintenance and petrol Staff's wages Insurance Cash at bank Carriage inwards Carriage outwards Telephone and electricity Duties on purchases Returns Inventory as at 1 January 2020 175 300 740 8,000 700 1,200 1,900 1,260 4,005 1,000 5,270 210 250 610 915 110 3,415 79,710 79,710 112 TOTAL

5. The following trial balance was extracted from the books of Fasuha Trading as at 31 December 2020. Particulars Debit Credit RM RM Office equipment Motor vehicles Furniture Accumulated depreciation as at 1 January 2020: Office equipment Motor vehicles Furniture Account receivables and account payables |Capital 6% loan to Rara 12,250 9,150 3,600 2,450 1,373 1,060 3,632 29,608 6,860 2,500 19,110 31,560 215 4,250 1,630 Purchases and sales Discount | Advertising Cash in hand Provision for doubtful debts Commission received 6% loan from Afina Bank (taken from 1 May 2020) Rent Drawings Maintenance and petrol Staff's wages Insurance Cash at bank Carriage inwards Carriage outwards Telephone and electricity Duties on purchases Returns Inventory as at 1 January 2020 175 300 740 8,000 700 1,200 1,900 1,260 4,005 1,000 5,270 210 250 610 915 110 3,415 79,710 79,710 112 TOTAL

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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26 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts Receivable - - BD2000 - Equipment BD6000 Prepaid Rent BD4000 Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 - Fees Income BD2700- Furniture BD10000 Required: Compute the net income or net loss and show solution steps.
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27 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts Receivable BD2000 - Equipment BD6000 Prepaid Rent BD4000 Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700- Furniture BD10000 Required: Compute ending capital on Dec 31 2020 and show solution steps. *
25 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 - Accounts Receivable - BD2000 Equipment BD6000 Prepaid Rent BD4000 - Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700 - Furniture BD10000 - Use the previous information to question 25 to question 28: Required: Compute the amount and show solution steps of: 1- Total Revenues 2- Total Expenses *