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3. The following is extracted trial balance of Bibi Florist, drawn up on conclusion of her first year in business. Bibi Florist Trial Balance as at 31 December 2019 Particulars Debit (RM) Credit (RM) General expenses 305 Business rates 2,400 Motor expenses 910 Salaries 39,560 Insurance 1,240 Purchases 121,040 Sales 235,812 Car 4,300 Account payable 11,200 Accounts receivable 21,080 Premises 53,000 Cash at bank 2,715 Cash in hand 325 Capital 23,263 Drawings 23,400 TOTAL 270,275 270,275 Inventory at 31 December 2019 was RM14,486. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 December 2019 ii. Statement of Financial Position as 31 December 2019

3. The following is extracted trial balance of Bibi Florist, drawn up on conclusion of her first year in business. Bibi Florist Trial Balance as at 31 December 2019 Particulars Debit (RM) Credit (RM) General expenses 305 Business rates 2,400 Motor expenses 910 Salaries 39,560 Insurance 1,240 Purchases 121,040 Sales 235,812 Car 4,300 Account payable 11,200 Accounts receivable 21,080 Premises 53,000 Cash at bank 2,715 Cash in hand 325 Capital 23,263 Drawings 23,400 TOTAL 270,275 270,275 Inventory at 31 December 2019 was RM14,486. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 December 2019 ii. Statement of Financial Position as 31 December 2019

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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3. The following is extracted trial balance of Bibi Florist, drawn up on conclusion of
her first year in business.
Bibi Florist
Trial Balance as at 31 December 2019
Particulars Debit (RM) Credit (RM)
General expenses 305
Business rates 2,400
Motor expenses 910
Salaries 39,560
Insurance 1,240
Purchases 121,040
Sales 235,812
Car 4,300
Account payable 11,200
Accounts receivable 21,080
Premises 53,000
Cash at bank 2,715
Cash in hand 325
Capital 23,263
Drawings 23,400
TOTAL 270,275 270,275
Inventory at 31 December 2019 was RM14,486.
Required:
i. Statement of Profit and Loss and Others Comprehensive Income for the year
ended 31 December 2019
ii. Statement of Financial Position as 31 December 2019

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