At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Debit RM Credit RM Particulars Capital 1 February 2019 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2019: 101,430 35,000 80,000 284,680 503,520 21,000 35,000 Vehicles Equipment 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 Return inward and return outwards 650 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors 95,370 1,240 83,210 14,880 680.550 680,550 18,950 Cash at bank TOTAL Additional information as at 31 January 2020: RM No. Particulars Stock valued at Insurance prepaid Goods taken from stock for own use Wages due 29,750 340 420 i. il. 2,400 620 iv. V. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: straight line method reducing balance method 30% 25% Vehicles Equipment
At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Debit RM Credit RM Particulars Capital 1 February 2019 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2019: 101,430 35,000 80,000 284,680 503,520 21,000 35,000 Vehicles Equipment 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 Return inward and return outwards 650 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors 95,370 1,240 83,210 14,880 680.550 680,550 18,950 Cash at bank TOTAL Additional information as at 31 January 2020: RM No. Particulars Stock valued at Insurance prepaid Goods taken from stock for own use Wages due 29,750 340 420 i. il. 2,400 620 iv. V. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: straight line method reducing balance method 30% 25% Vehicles Equipment
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 24CE
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