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Question 3 Below is the additional information which was left out by the accounts clerk. The folowing are the ladger balancas for Ele Cometic as at 30 June 2021: RM Sales Opening inventory Purchases Camrlage inwards Salaries 44,450 7,000 38,600 480 The closing inventory as at 30 June 2021 was RM7,400. 6,500 600 • Prepaid rents were RM60. Rerts Discount Alowed Repalrs and mallenance nsurance (for H months orly) Stationery Commissione paid nterest epenso ceneral Experse Office Equipment Bark Lwnidrat Auourts Reuelvabie Provsion tor Duubthu ueble 200 Anuurts Pablos Mortgege Capital 200 2,000 160 Insurance expenses unpaid for 4 months was RM80. 100 260 240 120 1.400 Accrued salaries were RM150. n 200 Depreciation on equipment: 10% on cost. 2000 17010 The provision for doubtful debts is to be made equal to 6% of the Accounts Receivable ASUS

Question 3 Below is the additional information which was left out by the accounts clerk. The folowing are the ladger balancas for Ele Cometic as at 30 June 2021: RM Sales Opening inventory Purchases Camrlage inwards Salaries 44,450 7,000 38,600 480 The closing inventory as at 30 June 2021 was RM7,400. 6,500 600 • Prepaid rents were RM60. Rerts Discount Alowed Repalrs and mallenance nsurance (for H months orly) Stationery Commissione paid nterest epenso ceneral Experse Office Equipment Bark Lwnidrat Auourts Reuelvabie Provsion tor Duubthu ueble 200 Anuurts Pablos Mortgege Capital 200 2,000 160 Insurance expenses unpaid for 4 months was RM80. 100 260 240 120 1.400 Accrued salaries were RM150. n 200 Depreciation on equipment: 10% on cost. 2000 17010 The provision for doubtful debts is to be made equal to 6% of the Accounts Receivable ASUS

FINANCIAL ACCOUNTING
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 3 Below is the additional information which was left out by the accounts clerk. The folowing are the ladger balanos for Ele Cosmatic as at 30 June 2021: RM Sales Opening inventory Purchases Camiage inwards 44,450 7,000 38,600 480 The closing inventory as at 30 June 2021 was RM7,400. Salaries 6,500 600 Prepaid rents were RM60. Rents Discount Aluwed 200 Repalrs and mailenance Insurance (for a months oriy Stationery Commissjons paid Interest epersD Ceneral Expersos Office Equipmont Bark Cwerdraft 2,000 160 Insurance expenses unpaid for 4 months was RM80. 100 260 240 120 4,400 Accrued salaries were RM150. 600 e 800 EDO Acuounts Reuelvable Frov sion for Duubtful 1ntble AGLuurts Payabies Mongage Capital 200 3.200 2.000 Depreciation on equipment: 10% on cost. 17.010 The provision for doubtful debts is to be made equal to 6% of the Accounts Receivable ASUS
Transcribed Image Text:Question 3 Below is the additional information which was left out by the accounts clerk. The folowing are the ladger balanos for Ele Cosmatic as at 30 June 2021: RM Sales Opening inventory Purchases Camiage inwards 44,450 7,000 38,600 480 The closing inventory as at 30 June 2021 was RM7,400. Salaries 6,500 600 Prepaid rents were RM60. Rents Discount Aluwed 200 Repalrs and mailenance Insurance (for a months oriy Stationery Commissjons paid Interest epersD Ceneral Expersos Office Equipmont Bark Cwerdraft 2,000 160 Insurance expenses unpaid for 4 months was RM80. 100 260 240 120 4,400 Accrued salaries were RM150. 600 e 800 EDO Acuounts Reuelvable Frov sion for Duubtful 1ntble AGLuurts Payabies Mongage Capital 200 3.200 2.000 Depreciation on equipment: 10% on cost. 17.010 The provision for doubtful debts is to be made equal to 6% of the Accounts Receivable ASUS
Required: Prepare: a. The Statement of Comprehensive Income for the year ended 30 June 2021. b. The Statement of Financial Position as at 30 June 2021.
Transcribed Image Text:Required: Prepare: a. The Statement of Comprehensive Income for the year ended 30 June 2021. b. The Statement of Financial Position as at 30 June 2021.
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