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2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.

2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.
Transcribed Image Text:2. The following Trial Balance obtained from Mr. Sofi business in baby clothes on 31st December 2019. Furniture Motor vehicle Debtors Creditors Cash Bank Returns Rent TRIAL BALANCE AS AT 31st DECEMBER 2019 Electricity & water Sales & Purchases Provision for depreciation Furniture Motor vehicle Opening inventory Salary Capital Provision for doubtful debts Discounts Required: RM 9,000 40,000 7,500 12,000 600 550 420 3,500 4,800 1,000 450 79,820 RM 10,000 2,500 800 9,500 1,800 3,500 50,870 350 500 79,820 Additional information: a. Depreciation rate for motor vehicles is 10% on cost and furniture is 5% on cost. b. Provision for doubtful debts is 4% c. Rent paid is RM100 per month d. Accrued electricity & water is RM150 e. Closing stock at cost price is RM6,000 and the market price RM4,800 i. Statement of Comprehensive Income for the year ended 21st December 2019. ii. Statement of Financial Position as at 21st December 2019.
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