URGENT PLEASE 7. The following is the list of balances extracted from the books of Anda Trading as at30 November 20X2.ParticularsRMPetty cash100Cash at bank9,000Accounts receivable12,840Inventory as at 1 December 20X126,500Motor vehicles14,000Plant and machinery50,000Long-term investments10,000Freehold premisesAccounts payable147,50016,50010% Mortgage on freehold premises34,000Capital on 1 December 20X1219,840Purchases128,900Wages and salaries70,300Rates and taxes1,000Interest on mortgage1,700General expenses2,000Carriage outwards21,000Insurance premium3,000Drawings7,400Carriage inwards600Advertising expenses14,000Sales250,000Sales returns1,000Purchases returns500Discount received600Discount allowed800Allowance for doubtful debt200Inventory on hand as at 30 November 20X2 was RM30,000.You are required to prepare the statement of profit or loss for the year ended30 November 20X2 and a statement of financial position as at that date.

The statement of profit or loss is a part of financial statements which shows the operational…

Answered: statement of profit or loss for the…

Business

Accounting

statement of profit or loss for the year ended angial

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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