Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year Ended 31 August 2019. b) Statement of Financial Position as at 31 August 2019.
Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year Ended 31 August 2019. b) Statement of Financial Position as at 31 August 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
![The following is the trial balance of Aroro Enterprise as at 31 August 2019
(48400+100)
Particulars
Debit (RM) Credit (RM)
48,400
Capital
Drawings
Trade receivables Ac-tecaNables
Trade payables
Sales
3,500
9,000
Ac-payable
3500
12,500
40,400
Purchases
Sales returns
Purchases returns
Wages and salaries E
Discounts allowed
Discounts received
Provision for doubtful debts
Insurance
31,000
300
250
(5,600
120
enses
zmings
ability
equity
200
300
700
2,400
(950
(350
10,000
3,000
20,000
Inventory as at 1 September 2018
Utilities
revenye
Rates
Premises
Fixtures and fittings
Motor van
Cash in hand
330
Cash at bank
14,800
102,050
TOTAL
102,050
= 3,300-160
- 3900
Additional information as at 31 August 2019:
i. Inventory as at 31 August 2019 amounted RM3,300
ii. An entity from whom there is accounts receivables of RM200 was unable to
settle his debt and this amount is to be written off as bad debts.
iii. The provision for doubtful debts is 1% of the outstanding trade receivables.
iv. The owner took RM100 worth of goods from the business for his own use
Expenses
bad debts
x 9e 00
Required:
100
a) Statement of Profit or Loss and Others Comprehensive Income for the year
Ended 31 August 2019.
b) Statement of Financial Position as at 31 August 2019.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F39fdf4a4-b2a9-44ed-b30f-c2f3da15924c%2F3867982a-bfe2-42d4-a68c-31434d0a5f3d%2Fy0oakzn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following is the trial balance of Aroro Enterprise as at 31 August 2019
(48400+100)
Particulars
Debit (RM) Credit (RM)
48,400
Capital
Drawings
Trade receivables Ac-tecaNables
Trade payables
Sales
3,500
9,000
Ac-payable
3500
12,500
40,400
Purchases
Sales returns
Purchases returns
Wages and salaries E
Discounts allowed
Discounts received
Provision for doubtful debts
Insurance
31,000
300
250
(5,600
120
enses
zmings
ability
equity
200
300
700
2,400
(950
(350
10,000
3,000
20,000
Inventory as at 1 September 2018
Utilities
revenye
Rates
Premises
Fixtures and fittings
Motor van
Cash in hand
330
Cash at bank
14,800
102,050
TOTAL
102,050
= 3,300-160
- 3900
Additional information as at 31 August 2019:
i. Inventory as at 31 August 2019 amounted RM3,300
ii. An entity from whom there is accounts receivables of RM200 was unable to
settle his debt and this amount is to be written off as bad debts.
iii. The provision for doubtful debts is 1% of the outstanding trade receivables.
iv. The owner took RM100 worth of goods from the business for his own use
Expenses
bad debts
x 9e 00
Required:
100
a) Statement of Profit or Loss and Others Comprehensive Income for the year
Ended 31 August 2019.
b) Statement of Financial Position as at 31 August 2019.
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