The following balances were extracted from the ledger of CTSha Trading as at 31 October DEBIT (RM) CREDIT (RM) Insurance 12,000 Water and electricity 4,800 Wages and salaries 16,000 Rental income 9,900 Interest income 6,000 Prepaid insurance as at 1 Nov 2018 1,500 Accrued wages and salaries as at 1 Nov 2018 2,000 Accrued rental income as at 1 Nov 2018 1,800 The following adjustment were to be made on 31 October 2019: RM1,800 of wages and salaries was notpaid Prepaid insurance amounted to RM1,000 RM500 of the interest income was notreceived RM900 of the rent income was for November2019 Water and electricity bills for RM800 were not paid Required: Prepare the Statement of Profit or Loss and Other Comprehensive Income (extracts) for the year ended 31 October2019 Prepare Statement of Financial Position (extracts) as at 31 October2019
The following balances were extracted from the ledger of CTSha Trading as at 31 October DEBIT (RM) CREDIT (RM) Insurance 12,000 Water and electricity 4,800 Wages and salaries 16,000 Rental income 9,900 Interest income 6,000 Prepaid insurance as at 1 Nov 2018 1,500 Accrued wages and salaries as at 1 Nov 2018 2,000 Accrued rental income as at 1 Nov 2018 1,800 The following adjustment were to be made on 31 October 2019: RM1,800 of wages and salaries was notpaid Prepaid insurance amounted to RM1,000 RM500 of the interest income was notreceived RM900 of the rent income was for November2019 Water and electricity bills for RM800 were not paid Required: Prepare the Statement of Profit or Loss and Other Comprehensive Income (extracts) for the year ended 31 October2019 Prepare Statement of Financial Position (extracts) as at 31 October2019
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
- The following balances were extracted from the ledger of CTSha Trading as at 31 October
|
|
DEBIT (RM) |
CREDIT (RM) |
|
Insurance |
12,000 |
|
|
Water and electricity |
4,800 |
|
|
Wages and salaries |
16,000 |
|
|
Rental income |
|
9,900 |
|
Interest income |
|
6,000 |
|
Prepaid insurance as at 1 Nov 2018 |
1,500 |
|
|
Accrued wages and salaries as at 1 Nov 2018 |
|
2,000 |
|
Accrued rental income as at 1 Nov 2018 |
1,800 |
|
The following adjustment were to be made on 31 October 2019:
- RM1,800 of wages and salaries was notpaid
- Prepaid insurance amounted to RM1,000
- RM500 of the interest income was notreceived
- RM900 of the rent income was for November2019
- Water and electricity bills for RM800 were not paid
Required:
- Prepare the Statement of Profit or Loss and Other Comprehensive Income (extracts) for the year ended 31 October2019
- Prepare Statement of Financial Position (extracts) as at 31 October2019
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