3. The following was the trial balance extract from ABC Trading as at 31 March 2019. Particulars DEBIT (RM) CREDIT (RM) Purchases and Sales Inventory on 1 April 2018 Capital Bank overdraft Cash Discount allowed and received Returns inwards and outwards Carriage outwards Office expenses Fixtures and fittings Delivery van Accounts receivables and account payables Rent and insurance Drawings Wages and salaries 22,800 5,100 41,000 8,170 4,300 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790 2,850 8,980 61.690 6,720 TOTAL 61.690 Additional information as at 31 March 2019: a. Inventory on 31 March 2019 was RM4,250 b. Wages and salaries accrued as at 31 march 2019 was RM210; outstanding office expenses was RM30 c. Rent and insurance prepaid was RM150
3. The following was the trial balance extract from ABC Trading as at 31 March 2019. Particulars DEBIT (RM) CREDIT (RM) Purchases and Sales Inventory on 1 April 2018 Capital Bank overdraft Cash Discount allowed and received Returns inwards and outwards Carriage outwards Office expenses Fixtures and fittings Delivery van Accounts receivables and account payables Rent and insurance Drawings Wages and salaries 22,800 5,100 41,000 8,170 4,300 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790 2,850 8,980 61.690 6,720 TOTAL 61.690 Additional information as at 31 March 2019: a. Inventory on 31 March 2019 was RM4,250 b. Wages and salaries accrued as at 31 march 2019 was RM210; outstanding office expenses was RM30 c. Rent and insurance prepaid was RM150
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
a) prepare the statement of profit or loss and other comorehensive income for the year ended 31 march 2019
b) prepare
Transcribed Image Text:3. The following was the trial balance extract from ABC Trading as at 31 March 2019.
Particulars
DEBIT (RM)
CREDIT (RM)
Purchases and Sales
Inventory on 1 April 2018
Capital
Bank overdraft
Cash
Discount allowed and received
22,800
5,100
41,000
8,170
4,300
140
1,440
Returns inwards and outwards
790
Carriage outwards
Office expenses
Fixtures and fittings
Delivery van
Accounts receivables and account payables
Rent and insurance
Drawings
Wages and salaries
2,180
450
1,210
2,000
11,900
1,790
6,720
2,850
8,980
61,690
TOTAL
61,690
Additional information as at 31 March 2019:
a. Inventory on 31 March 2019 was RM4,250
b. Wages and salaries accrued as at 31 march 2019 was RM210; outstanding office
expenses was RM30
c. Rent and insurance prepaid was RM150
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