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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 21,000 35,000 650 Vehicles Equipment Return inward and return outwards 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 1,340 1,220 25,570 4,930 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 1 Stock valued at ii. Insurance prepaid il. Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 Vehicles straight line method 30% 25% Equipment. reducing balance method 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 21,000 35,000 650 Vehicles Equipment Return inward and return outwards 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 1,340 1,220 25,570 4,930 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 1 Stock valued at ii. Insurance prepaid il. Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 Vehicles straight line method 30% 25% Equipment. reducing balance method 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
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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Chapter : Adjusted Financial Statements

ê © T 0 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Credit RM Debit 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 Equipment Return inward and return outwards 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 21,000 35.000 1,340 650 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680.550 18.950 Cash at bank ТOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at ii. Insurance prepaid iii. I Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 straight line method reducing balance method Vehicles 30% Equipment- 25% 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. Filters Add a caption.
Transcribed Image Text:ê © T 0 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Credit RM Debit 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 Equipment Return inward and return outwards 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 21,000 35.000 1,340 650 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680.550 18.950 Cash at bank ТOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at ii. Insurance prepaid iii. I Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 straight line method reducing balance method Vehicles 30% Equipment- 25% 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. Filters Add a caption.
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