Building Inventory Returns Bank Rental Salary Drawings Insurance Capital Trial balance as at 31 December 2012 RM 50,000 17,000 400 Assessment rate Account receivable and Accounts payable Sales and Purchases Allowance for Doubtful Debt Stationeries paid Advertising 6,000 360 1,200 3,000 9,250 56,000 420 2,000 145,630 1. Closing inventory is RM15,000 2. Bad debt is RM50. Allowance for doubtful debts is 2% on accounts receivable. 3. Accrued assessment rate is RM600. 4. Rental received each month is RM300 per month RM 1,980 3,200 58,370 7,000 75,000 80 145,630 Prepare: a) Statement of Comprehensive Income for the year ending 31 December 2012 b) Statement of Financial Position as at 31 December 2012

Building Inventory Returns Bank Rental Salary Drawings Insurance Capital Trial balance as at 31 December 2012 RM 50,000 17,000 400 Assessment rate Account receivable and Accounts payable Sales and Purchases Allowance for Doubtful Debt Stationeries paid Advertising 6,000 360 1,200 3,000 9,250 56,000 420 2,000 145,630 1. Closing inventory is RM15,000 2. Bad debt is RM50. Allowance for doubtful debts is 2% on accounts receivable. 3. Accrued assessment rate is RM600. 4. Rental received each month is RM300 per month RM 1,980 3,200 58,370 7,000 75,000 80 145,630 Prepare: a) Statement of Comprehensive Income for the year ending 31 December 2012 b) Statement of Financial Position as at 31 December 2012

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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