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How to prepare a statement comprehensive income and statement of financial position The following balances were extracted from Alicia's accounts at 31 December 2022. Debit Credit Accounts Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salarles Motor vehicle expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts Additional information: RM 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 333,954 RM 32,000 14,000 4,000 250,000 28,716 5,238 333,954 1. Stock as at 31 December 2022 was RM15,735. 2. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. 3. Unexpired insurance amounting RM290. 4. Accrued wag and salaries amounting to RM290. 5. There was an unpaid account of RM410 for general expenses. 6. Provision to be made for depreciable at the following rates: Plant and machinery 10% per annum Motor vehicles 20% per annum 1. The provision for doubtful debts is to be reduced to RM4,178. Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022

How to prepare a statement comprehensive income and statement of financial position The following balances were extracted from Alicia's accounts at 31 December 2022. Debit Credit Accounts Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salarles Motor vehicle expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts Additional information: RM 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 333,954 RM 32,000 14,000 4,000 250,000 28,716 5,238 333,954 1. Stock as at 31 December 2022 was RM15,735. 2. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. 3. Unexpired insurance amounting RM290. 4. Accrued wag and salaries amounting to RM290. 5. There was an unpaid account of RM410 for general expenses. 6. Provision to be made for depreciable at the following rates: Plant and machinery 10% per annum Motor vehicles 20% per annum 1. The provision for doubtful debts is to be reduced to RM4,178. Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How to prepare a statement comprehensive income and statement of financial position The following balances were extracted from Alicia's accounts at 31 December 2022. Debit Accounts Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salarles Motor vehicle expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts RM 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 Credit RM 32,000 14,000 4,000 250,000 28,716 5,238 333,954 333,954 Additional information: 1. Stock as at 31 December 2022 was RM15,735. 2. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. 3. Unexpired insurance amounting RM290. 4. Accrued wages and salaries amounting to RM290. 5. There was an unpaid account of RM410 for general expenses. 6. Provision to be made for depreciable at the following rates: Plant and machinery 10% per annum Motor vehicles 20% per annum 1. The provision for doubtful debts is to be reduced to RM4,178. Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022
Transcribed Image Text:How to prepare a statement comprehensive income and statement of financial position The following balances were extracted from Alicia's accounts at 31 December 2022. Debit Accounts Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salarles Motor vehicle expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts RM 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 Credit RM 32,000 14,000 4,000 250,000 28,716 5,238 333,954 333,954 Additional information: 1. Stock as at 31 December 2022 was RM15,735. 2. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. 3. Unexpired insurance amounting RM290. 4. Accrued wages and salaries amounting to RM290. 5. There was an unpaid account of RM410 for general expenses. 6. Provision to be made for depreciable at the following rates: Plant and machinery 10% per annum Motor vehicles 20% per annum 1. The provision for doubtful debts is to be reduced to RM4,178. Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022
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