QUESTION 5 (2 *.The following is the trial balance of Gulaloba Sdn Bhd as at 31 December 2020.Debit (RM) Credit (RM)5,00022,5002,000ParticularsInventory as at 1 December 2020Purchases and saleCarriage OutwardsReturn OutwardWages and SalariesUtilityDelivery costDiscount allowed and discount received150,4006002,2001,800350750500Insurance1,400600Duty ImportBuildingAccount receivable and account payableFurniture and fittingsCash in bankCash in handDrawingСaptal100,00040,0008,00015,0002,00090013,000202,50038,000202,500The closing inventory was RM5,500REQUIRED:i. Prepare Statement of Comprehensive Income for the year ended 31 December 2020.ii. Prepare Statement of Financial Position as at 31 December 2020.

Financial statement means the trading and profit and loss account and balance sheet of the company…

QUESTION 5 (2" The following is the trial balance of Gulaloba Sdn Bhd as at 31 December 2020. Particulars Inventory as at 1 December 2020 Purchases and sale Carriage Outwards Return Outward Wages and Salaries Utility Delivery cost Discount allowed and discount received Insurance Duty Import Building Account receivable and account payable Furniture and fittings Cash in bank Cash in hand Drawing Capital Debit (RM) Credit (RM) 5,000 22,500 2,000 150,400 600 2,200 1,800 350 750 1,400 600 100,000 40,000 8,000 15,000 2,000 900 500 13,000 202,500 38,000 202,500 The closing inventory was RM5,500 REQUIRED: i. Prepare Statement of Comprehensive Income for the year ended 31 December 2020. ii. Prepare Statement of Financial Position as at 31 December 2020.

QUESTION 5 (2" The following is the trial balance of Gulaloba Sdn Bhd as at 31 December 2020. Particulars Inventory as at 1 December 2020 Purchases and sale Carriage Outwards Return Outward Wages and Salaries Utility Delivery cost Discount allowed and discount received Insurance Duty Import Building Account receivable and account payable Furniture and fittings Cash in bank Cash in hand Drawing Capital Debit (RM) Credit (RM) 5,000 22,500 2,000 150,400 600 2,200 1,800 350 750 1,400 600 100,000 40,000 8,000 15,000 2,000 900 500 13,000 202,500 38,000 202,500 The closing inventory was RM5,500 REQUIRED: i. Prepare Statement of Comprehensive Income for the year ended 31 December 2020. ii. Prepare Statement of Financial Position as at 31 December 2020.

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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C part
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