The following is the trial balance of Aroro Enterprise as at 31 August 2019 Particulars Debit (RM) Credit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases returns Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 48,400 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. ii. The provision for doubtful debts is 1% of the outstanding trade receivables. v. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year Ended 31 August 2019. b) Statement of Financial Position as at 31 August 2019.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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3. The following is the trial balance of Aroro Enterprise as at 31 August 2019
Debit (RM) Credit (RM)
48,400
Particulars
Capital
Drawings
Trade receivables
Trade payables
Sales
Purchases
Sales returns
Purchases returns
Wages and salaries
Discounts allowed
Discounts received
Provision for doubtful debts
Insurance
Inventory as at 1 September 2018
Utilities
Rates
Premises
Fixtures and fittings
Motor van
Cash in hand
Cash at bank
ТOTAL
3,500
9,000
12,500
40,400
31,000
300
250
5,600
120
200
300
700
2,400
950
350
10,000
3,000
20,000
330
14,800
102.050
102,050
Additional information as at 31 August 2019:
i. Inventory as at 31 August 2019 amounted RM3,300
ii. An entity from whom there is accounts receivables of RM200 was unable to
settle his debt and this amount is to be written off as bad debts.
iii. The provision for doubtful debts is 1% of the outstanding trade receivables.
iv. The owner took RM100 worth of goods from the business for his own use
Required:
a) Statement of Profit or Loss and Others Comprehensive Income for the year
Ended 31 August 2019.
b) Statement of Financial Position as at 31 August 2019.
Transcribed Image Text:3. The following is the trial balance of Aroro Enterprise as at 31 August 2019 Debit (RM) Credit (RM) 48,400 Particulars Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases returns Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank ТOTAL 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 330 14,800 102.050 102,050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year Ended 31 August 2019. b) Statement of Financial Position as at 31 August 2019.
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