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) statement of profit and loss and other comprehensive income for the year ended 31 july 2020 ii) statement of financial position as 31 july 202

) statement of profit and loss and other comprehensive income for the year ended 31 july 2020 ii) statement of financial position as 31 july 202

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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i) statement of profit and loss and other comprehensive income for the year ended 31 july 2020

ii) statement of financial position as 31 july 2020

5. The following list of balances obtained from Agro Trading as at 31 July 2020. PARTICULARS RM |Cash in hand Cash at bank 100 Account receivable Inventory as at 1 June 2019 Motor vehicles Plant and machinery Long term investment Freehold premises Account payable 10% Mortgage on freehold premises Capital Purchases |Wages and salaries Rates and taxes 9,000 12,840 26,500 14,000 50,000 10,000 147,500 16,500 34,000 219,840 128,900 70,300 1,000 1,700 2,000 21,000 3,000 7,400 600 Interest on mortgage General expenses Carriage outwards Insurance premium Drawings |Carriage inwards Advertising expenses Sales Sales returns 14,000 250,000 1,000 Purchases returns Discount received Discount allowed Allowance for doubtful debt 500 600 800 200 Inventory at 31 July 2020 was RM30,000.
Transcribed Image Text:5. The following list of balances obtained from Agro Trading as at 31 July 2020. PARTICULARS RM |Cash in hand Cash at bank 100 Account receivable Inventory as at 1 June 2019 Motor vehicles Plant and machinery Long term investment Freehold premises Account payable 10% Mortgage on freehold premises Capital Purchases |Wages and salaries Rates and taxes 9,000 12,840 26,500 14,000 50,000 10,000 147,500 16,500 34,000 219,840 128,900 70,300 1,000 1,700 2,000 21,000 3,000 7,400 600 Interest on mortgage General expenses Carriage outwards Insurance premium Drawings |Carriage inwards Advertising expenses Sales Sales returns 14,000 250,000 1,000 Purchases returns Discount received Discount allowed Allowance for doubtful debt 500 600 800 200 Inventory at 31 July 2020 was RM30,000.
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