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statement of profit or loss for the year ended angial

statement of profit or loss for the year ended angial

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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7. The following is the list of balances extracted from the books of Anda Trading as at 30 November 20X2. Particulars RM Petty cash 100 Cash at bank 9,000 Accounts receivable 12,840 Inventory as at 1 December 20X1 26,500 Motor vehicles 14,000 Plant and machinery 50,000 Long-term investments 10,000 Freehold premises Accounts payable 147,500 16,500 10% Mortgage on freehold premises 34,000 Capital on 1 December 20X1 219,840 Purchases 128,900 Wages and salaries 70,300 Rates and taxes 1,000 Interest on mortgage 1,700 General expenses 2,000 Carriage outwards 21,000 Insurance premium 3,000 Drawings 7,400 Carriage inwards 600 Advertising expenses 14,000 Sales 250,000 Sales returns 1,000 Purchases returns 500 Discount received 600 Discount allowed 800 Allowance for doubtful debt 200 Inventory on hand as at 30 November 20X2 was RM30,000. You are required to prepare the statement of profit or loss for the year ended 30 November 20X2 and a statement of financial position as at that date.
Transcribed Image Text:7. The following is the list of balances extracted from the books of Anda Trading as at 30 November 20X2. Particulars RM Petty cash 100 Cash at bank 9,000 Accounts receivable 12,840 Inventory as at 1 December 20X1 26,500 Motor vehicles 14,000 Plant and machinery 50,000 Long-term investments 10,000 Freehold premises Accounts payable 147,500 16,500 10% Mortgage on freehold premises 34,000 Capital on 1 December 20X1 219,840 Purchases 128,900 Wages and salaries 70,300 Rates and taxes 1,000 Interest on mortgage 1,700 General expenses 2,000 Carriage outwards 21,000 Insurance premium 3,000 Drawings 7,400 Carriage inwards 600 Advertising expenses 14,000 Sales 250,000 Sales returns 1,000 Purchases returns 500 Discount received 600 Discount allowed 800 Allowance for doubtful debt 200 Inventory on hand as at 30 November 20X2 was RM30,000. You are required to prepare the statement of profit or loss for the year ended 30 November 20X2 and a statement of financial position as at that date.
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