2. The following balances were extracted from the ledger of CTSha Trading as at 31 October 2019. DEBIT (RM) 12,000 4,800 16,000 CREDIT (RM) Insurance Water and electricity Wages and salaries Rental income 9,900 6,000 Interest income Prepaid insurance as at 1 Nov 2018 Accrued wages and salaries as at 1 Nov 2018 Accrued rental income as at 1 Nov 2018 1,500 2,000 1,800 The following adjustment were to be made on 31 October 2019: a) RM1,800 of wages and salaries was not paid b) Prepaid insurance amounted to RM1,000 c) RM500 of the interest income was not received d) RM900 of the rent income was for November 2019 e) Water and electricity bills for RM800 were not paid. Required: Prepare the Statement of Profit or Loss and Other Comprehensive Income extracts) for the year ended 31 October 2019 repare Statement of Financial Position (extracts) as at 31 October 2019 РОСО SHOT ON POCO F2 PRO

2. The following balances were extracted from the ledger of CTSha Trading as at 31 October 2019. DEBIT (RM) 12,000 4,800 16,000 CREDIT (RM) Insurance Water and electricity Wages and salaries Rental income 9,900 6,000 Interest income Prepaid insurance as at 1 Nov 2018 Accrued wages and salaries as at 1 Nov 2018 Accrued rental income as at 1 Nov 2018 1,500 2,000 1,800 The following adjustment were to be made on 31 October 2019: a) RM1,800 of wages and salaries was not paid b) Prepaid insurance amounted to RM1,000 c) RM500 of the interest income was not received d) RM900 of the rent income was for November 2019 e) Water and electricity bills for RM800 were not paid. Required: Prepare the Statement of Profit or Loss and Other Comprehensive Income extracts) for the year ended 31 October 2019 repare Statement of Financial Position (extracts) as at 31 October 2019 РОСО SHOT ON POCO F2 PRO

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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