table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021. January - December 2021Descriptions:Cash injected by ownerLoan (6% for 5 years)Sales (unit)Selling price/unitPurchase price/unitPurchase of van in May(life expectancy 8 years, cashpayment)85% sales collection on 2021Oven bakery stocks (number ofunits purchased)Monthly expensesSalaryUtilityAdvertisement (for a year)MiscellaneousRinggit Malaysia (RM)150,00050,0004,500 unit50039060,0005,000 unit2,5005002,500300

Profit and loss statement shows the amount of profit earned or loss suffered during the period.

table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021.

table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021.

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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Question

January - December 2021
Descriptions:
Cash injected by owner
Loan (6% for 5 years)
Sales (unit)
Selling price/unit
Purchase price/unit
Purchase of van in May
(life expectancy 8 years, cash
payment)
85% sales collection on 2021
Oven bakery stocks (number of
units purchased)
Monthly expenses
Salary
Utility
Advertisement (for a year)
Miscellaneous
Ringgit Malaysia (RM)
150,000
50,000
4,500 unit
500
390
60,000
5,000 unit
2,500
500
2,500
300

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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