1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti.ParticularsDebitCreditRMRMCapital 1 February 2019Vehicles at costEquipment at costPurchases and salesProvision for depreciation at 1 February 2019:101,43035,00080,000284,680 503,520VehiclesEquipmentReturn inward and return outwardsFinance expensesStock at 1 February 2019Vehicles expensesRent, rates and insurance21,00035,0001,3401,22025,5704,9307,42021,94023.550650Office expensesDrawingsPetty cashWages and salariesBad debtsDebtors and creditors20095,3701,24083,21014,880680,550 680,55018,950Cash at bankTOTALAdditional information as at 31 January 2020:No. ParticularsRM29,750340i.Stock valued atInsurance prepaidGoods taken from stock for own useii.i.iv. Wages dueProvision for doubtful debt requiredProvision for depreciation is to be provided as follows:4202,400620V.vi.straight line methodreducing balance methodVehicles30%25%Equipment-Required:a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31January 2020.b) Statement of Financial Position as at 31 January 2020.

Name: 1. At 31 January 2020 the following trial balance was extracted from
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Description: 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti.ParticularsDebitCreditRMRMCapital 1 February 2019Vehicles at costEquipment at costPurchases and salesProvision for depreciation at 1 February 2019:101,43035,000

The trial balance and its adjustments are used to prepare financial statements like Profit or loss…

Business

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1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit RM Credit RM Capital 1 February 2019 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2019: 101,430 35,000 80,000 284,680 503,520 Vehicles 21,000 35,000 Equipment Return inward and return outwards 1,340 650 1,220 25,570 4,930 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680,550 680,550 18,950 TOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at RM 29,750 340 Insurance prepaid Goods taken from stock for own use ii ii iv. 420 Wages due Provision for doubtful debt required Provision for depreciation is to be provided as follows: Vehicles 2,400 V. 620 vi. straight line method reducing balance method 30% 25% Equipment Required: a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 January 2020. b) Statement of Financial Position as at 31 January 2020.

1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit RM Credit RM Capital 1 February 2019 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2019: 101,430 35,000 80,000 284,680 503,520 Vehicles 21,000 35,000 Equipment Return inward and return outwards 1,340 650 1,220 25,570 4,930 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680,550 680,550 18,950 TOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at RM 29,750 340 Insurance prepaid Goods taken from stock for own use ii ii iv. 420 Wages due Provision for doubtful debt required Provision for depreciation is to be provided as follows: Vehicles 2,400 V. 620 vi. straight line method reducing balance method 30% 25% Equipment Required: a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 January 2020. b) Statement of Financial Position as at 31 January 2020.

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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