statement of profit or loss for the year ended angial
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff0ab9a1f-75d6-48c2-858f-980019510e4a%2F782eaba5-ab6e-4dc3-8f6c-758c349e2d51%2Fg1epaf8_processed.jpeg&w=3840&q=75)
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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