The following list of balances obtained from Agro Trading as at 31 July 2020. PARTICULARS RM Cash in hand 100 Cash at bank 9,000 Account receivable 12,840 Inventory as at 1 June 2019 26,500 Motor vehicles 14,000 Plant and machinery 50,000 Long term investment 10,000 Freehold premises 147,500 Account payable 16,500 10% Mortgage on freehold premises 34,000 Capital 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 at 31 July 2020 was RM30,000. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 July 2020. ii. Statement of Financial Position as 31 July 2020
5. The following list of balances obtained from Agro Trading as at 31 July 2020.
PARTICULARS RM
Cash in hand 100
Cash at bank 9,000
Inventory as at 1 June 2019 26,500
Motor vehicles 14,000
Plant and machinery 50,000
Long term investment 10,000
Freehold premises 147,500
Account payable 16,500
10% Mortgage on freehold premises 34,000
Capital 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 at 31 July 2020 was RM30,000.
Required:
i. Statement of
ended 31 July 2020.
ii. Statement of Financial Position as 31 July 2020
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