At 31 January 2020 the following trial balance was extracted from the books of Yusiti.  Particulars  Debit  RM Credit  RM Capital 1 February 2019    101,430 Vehicles at cost  35,000   Equipment at cost  80,000   Purchases and sales  284,680  503,520 Provision for depreciation at 1 February 2019:  Vehicles    Equipment   21,000  35,000 Return inward and return outwards  1,340  650 Finance expenses  1,220   Stock at 1 February 2019  25,570   Vehicles expenses  4,930   Rent, rates and insurance  7,420   Office expenses  21,940   Drawings  23,550   Petty cash  200   Wages and salaries  95,370   Bad debts  1,240   Debtors and creditors  83,210  18,950 Cash at bank  14,880   TOTAL  680,550  680,550  Additional information as at 31 January 2020: No.  Particulars  RM i.  Stock valued at  29,750 ii.  Insurance prepaid  340 iii.  Goods taken from stock for own use  420 iv.  Wages due  2,400 v.  Provision for doubtful debt required  620 vi.  Provision for depreciation is to be provided as follows:  Vehicles - straight line method    Equipment - reducing balance method  30%  25% Required:  b) Statement of Financial Position as at 31 January 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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  1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. 

Particulars 

Debit 

RM

Credit 

RM

Capital 1 February 2019 

 

101,430

Vehicles at cost 

35,000

 

Equipment at cost 

80,000

 

Purchases and sales 

284,680 

503,520

Provision for depreciation at 1 February 2019:  Vehicles  

 Equipment

 

21,000 

35,000

Return inward and return outwards 

1,340 

650

Finance expenses 

1,220

 

Stock at 1 February 2019 

25,570

 

Vehicles expenses 

4,930

 

Rent, rates and insurance 

7,420

 

Office expenses 

21,940

 

Drawings 

23,550

 

Petty cash 

200

 

Wages and salaries 

95,370

 

Bad debts 

1,240

 

Debtors and creditors 

83,210 

18,950

Cash at bank 

14,880

 

TOTAL 

680,550 

680,550



 Additional information as at 31 January 2020:

No. 

Particulars 

RM

i. 

Stock valued at 

29,750

ii. 

Insurance prepaid 

340

iii. 

Goods taken from stock for own use 

420

iv. 

Wages due 

2,400

v. 

Provision for doubtful debt required 

620

vi. 

Provision for depreciation is to be provided as follows:  Vehicles - straight line method  

 Equipment - reducing balance method 

30% 

25%



Required: 

  1. b) Statement of Financial Position as at 31 January 2020.
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