a）Prepare the statements of profit or loss and other comprehensive income for the year ended 31 october 2019b) Prepare Statement of financial position(extract) as at 31 October 2019 2. The following balances were extracted from the ledger of CTSha Trading as at 31October 2019.DEBIT (RM)12,0004,80016,000CREDIT (RM)InsuranceWater and electricityWages and salariesRental income9,900Interest incomePrepaid insurance as at 1 Nov 2018Accrued wages and salaries as at 1 Nov 2018Accrued rental income as at 1 Nov 20186,0001,5002,0001,800The following adjustment were to be made on 31 October 2019:a) RM1,800 of wages and salaries was not paidb) Prepaid insurance amounted to RM1,000c) RM500 of the interest income was not receivedd) RM900 of the rent income was for November 2019e) Water and electricity bills for RM800 were not paid.Required:Prepare the Statement of Profit or Loss and Other Comprehensive Income(extracts) for the year ended 31 October 2019ii.i.Prepare Statement of Financial Position (extracts) as at 31 October 2019РОСОSHOT ON POCO F2 PROMobd Radzi

Answered: a）Prepare the statements of profit or…

a）Prepare the statements of profit or loss and other comprehensive income for the year ended 31 october 2019 b) Prepare Statement of financial position(extract) as at 31 October 2019

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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Question

a）Prepare the statements of profit or loss and other comprehensive income for the year ended 31 october 2019 b) Prepare Statement of financial position(extract) as at 31 October 2019

2. The following balances were extracted from the ledger of CTSha Trading as at 31
October 2019.
DEBIT (RM)
12,000
4,800
16,000
CREDIT (RM)
Insurance
Water and electricity
Wages and salaries
Rental income
9,900
Interest income
Prepaid insurance as at 1 Nov 2018
Accrued wages and salaries as at 1 Nov 2018
Accrued rental income as at 1 Nov 2018
6,000
1,500
2,000
1,800
The following adjustment were to be made on 31 October 2019:
a) RM1,800 of wages and salaries was not paid
b) Prepaid insurance amounted to RM1,000
c) RM500 of the interest income was not received
d) RM900 of the rent income was for November 2019
e) Water and electricity bills for RM800 were not paid.
Required:
Prepare the Statement of Profit or Loss and Other Comprehensive Income
(extracts) for the year ended 31 October 2019
ii.
i.
Prepare Statement of Financial Position (extracts) as at 31 October 2019
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SHOT ON POCO F2 PRO
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Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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