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Aveen, a sole trader, has the following
|
Accounts |
Debit (RM) |
Credit (RM) |
|
Capital |
|
121,050 |
|
Drawings |
8,000 |
|
|
Cash at bank |
3,000 |
|
|
Cash in hand |
400 |
|
|
Accounts payable |
|
12,000 |
|
|
30,000 |
|
|
Inventory as at 1 January 2022 |
23,000 |
|
|
Motor vehicle |
40,000 |
|
|
Office equipment |
60,000 |
|
|
Sales |
|
130,000 |
|
|
|
8,000 |
|
Accumulated depreciation - Office equipment |
|
12,000 |
|
Provision for doubtful debts |
|
5,000 |
|
Purchases |
90,000 |
|
|
Returns |
600 |
300 |
|
Carriage inwards |
300 |
|
|
Motor running expenses |
1,000 |
|
|
Rent expenses |
20,000 |
|
|
Telephone charges |
400 |
|
|
Wages and salaries expenses |
12,000 |
|
|
Insurance expenses |
3,000 |
|
|
Postage and stamps expenses |
100 |
|
|
Office expenses |
1,300 |
|
|
Sundry expenses |
300 |
|
|
Dividend income |
|
2,000 |
|
Interest income |
|
3,000 |
|
Discount |
200 |
250 |
|
Total |
293,600 |
293,600 |
The inventory for the company as at 31 December 2022 was RM30,000. Additional information:
- i) Wages and salaries are accrued by RM140.
- ii) Prepaid rent at 31 December 2022 is RM1,000.
iii) Motor running expenses are accrued by RM200.
- iv) Increase in the provision for doubtful debts by RM200.
- v) Depreciation is yet to be provided for the year. All non-current assets are to be
depreciated by 10% on cost based on the balance of its account on 31 December 2022.
You are required to prepare the following for the company:
Journal for the
- Statement of Comprehensive Income for the year ended 31 December 2022.
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