Question: Below given is the question. I will be also giving out the trial balance to refer: Kindly provide me with the answers and working as
Below given is the question. I will be also giving out the trial balance to refer: Kindly provide me with the answers and working as well.The trial balance of Fajar Sdn Bhd at 31 December 2020 is as follows: Dr(RM) Cr(RM)Sales 75,000Commission Rcvd 2,700Wages 8,000Account Receivable 6,300Building 60,000Bank 3,450Fixtures and 9,000FittingsRent rcvd 500Office 11,350Equipment Return inwards 400Purchases 40,000Return outwards 300Community 600Chest donation Drawing 700Accnt payable 3,200Repairs and Maintenance 900Import duty 400CarriageInwards 300Loan 20,000Interest received 2,000Interest on Loan 1,200Opening stock 4,000Capital 36,000 ???? ?????? 143,150 143,150

143, 150 145, TO0 Additional information: Closing stock at 31 December 2020 is RM5,000. ii. There are accrued wages of RM500 ili. Provision for doubtful debt is RM200. IV. Depreciate fixtures and fittings at 10% per annum and office equipment at 15% per annum on cost using straight line method. V . Repairs and maintenance have been prepaid by RM50. Required: a) Prepare an income statement for the year ended 31 December 2020. (20 marks) b) Prepare statement of financial position as at 31 December 2020. (20 marks) (Total:40 Marks) I 4
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
