2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac2020:ParticularsRM63,0301,620CapitalCarriage inCarriage outPurchasesOffice equipmentMotor vehicle800145,80010,0008,500232,95068,0003,6008,4004,3009,6003,18028.400SalesWages and salariesRent and ratesLighting and heatingVehicles running costTelephone expensesGeneral office expensesDebtorsCreditorsProvision for depreciation:Motor vehicle16,4404,2504,000Office equipmentProvision for doubtful debtsDrawingsCash at bankCash in hand50013,5706,200Stock as at 1 April 2019Return inwards3008,0003,800Return outwards2,900Additional information as at 31 Mac 2020:Stock on hand was valued at RM8,800Rent and rates prepaid RM1,200Wages and salaries RM1,750Depreciation is to be provided as follows:a. Motor vehiclesb. Office equipmenti.i.ii.iv.50 % reducing balance method20% straight line methodV.The doubtful debts provision is to be maintained at 2% of closing debtors.Required:a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac2020.b) Statement of Financial Position as at 31 Mac 2020.

To know the performance of the business of particular period, firm prepare statement of profit and…

2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac 2020: Particulars RM Capital Carriage in Carriage out Purchases Office equipment Motor vehicle Sales Wages and salaries Rent and rates Lighting and heating Vehicles running cost Telephone expenses General office expenses Debtors Creditors Provision for depreciation: 63,030 1,620 800 145,800 10.000 8,500 232,950 68,000 3,600 8,400 4,300 9,600 3,180 28,400 16,440 Motor vehicle Office equipment Provision for doubtful debts Drawings Cash at bank Cash in hand Stock as at 1 April 2019 Return inwards 4,250 4,000 500 13,570 6,200 300 8,000 3,800 2,900 Return outwards Additional information as at 31 Mac 2020: i. Stock on hand was valued at RM8,800 ii. Rent and rates prepaid RM1,200 Wages and salaries RM1,750 iv. i. Depreciation is to be provided as follows: a. Motor vehicles b. Office equipment 50 % reducing balance method 20% straight line method V. The doubtful debts provision is to be maintained at 2% of closing debtors. Required: a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac 2020. b) Statement of Financial Position as at 31 Mac 2020.

2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac 2020: Particulars RM Capital Carriage in Carriage out Purchases Office equipment Motor vehicle Sales Wages and salaries Rent and rates Lighting and heating Vehicles running cost Telephone expenses General office expenses Debtors Creditors Provision for depreciation: 63,030 1,620 800 145,800 10.000 8,500 232,950 68,000 3,600 8,400 4,300 9,600 3,180 28,400 16,440 Motor vehicle Office equipment Provision for doubtful debts Drawings Cash at bank Cash in hand Stock as at 1 April 2019 Return inwards 4,250 4,000 500 13,570 6,200 300 8,000 3,800 2,900 Return outwards Additional information as at 31 Mac 2020: i. Stock on hand was valued at RM8,800 ii. Rent and rates prepaid RM1,200 Wages and salaries RM1,750 iv. i. Depreciation is to be provided as follows: a. Motor vehicles b. Office equipment 50 % reducing balance method 20% straight line method V. The doubtful debts provision is to be maintained at 2% of closing debtors. Required: a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac 2020. b) Statement of Financial Position as at 31 Mac 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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