a) prepare the statement of profit or loss and other comorehensive income for the year ended 31 march 2019b) prepare statement of financial position as at 31 march 2019 3. The following was the trial balance extract from ABC Trading as at 31 March 2019.ParticularsDEBIT (RM)CREDIT (RM)Purchases and SalesInventory on 1 April 2018CapitalBank overdraftCashDiscount allowed and received22,8005,10041,0008,1704,3001401,440Returns inwards and outwards790Carriage outwardsOffice expensesFixtures and fittingsDelivery vanAccounts receivables and account payablesRent and insuranceDrawingsWages and salaries2,1804501,2102,00011,9001,7906,7202,8508,98061,690TOTAL61,690Additional information as at 31 March 2019:a. Inventory on 31 March 2019 was RM4,250b. Wages and salaries accrued as at 31 march 2019 was RM210; outstanding officeexpenses was RM30c. 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

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

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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