The total income for the year ended 31 August 2020 for Amina Trading was RM65,500 and the total operating expenses were RM44,100. If the amount of accrued income is RM600 and the total prepaid expenses were RM440, determine the amount of net profit for the year ended 31 August 2020. O RM22,440 O RM20,360 O RM21,560 RM21,240

The total income for the year ended 31 August 2020 for Amina Trading was RM65,500 and the total operating expenses were RM44,100. If the amount of accrued income is RM600 and the total prepaid expenses were RM440, determine the amount of net profit for the year ended 31 August 2020. O RM22,440 O RM20,360 O RM21,560 RM21,240

Name: The total income for the year ended 31 August 2020 for Amina Trading
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Description: The total income for the year ended 31 August 2020 for Amina Trading wasRM65,500 and the total operating expenses were RM44,100. If the amountof accrued income is RM600 and the total prepaid expenses were RM440,determine the amount of net profit for

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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The total income for the year ended 31 August 2020 for Amina Trading was
RM65,500 and the total operating expenses were RM44,100. If the amount
of accrued income is RM600 and the total prepaid expenses were RM440,
determine the amount of net profit for the year ended 31 August 2020.
RM22,440
RM20,360
O RM21,560
RM21,240
O O O

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