Identify Account Type nd Financial Statement on which it appears.

Account Types

Asset

Liability

Equity

Income

Expense

Financial Statements

Balance Sheet

Profit and Loss

Accounts

1. Design Income

2. Savings

3. Accounts Receivable (A/R)

4. Rent or Lease

5. Prepaid Expenses

6. Notes Payable

7. Inventory Asset

8. Opening Balance Equity

9. Utilities

10. Undeposited Funds

11. Accounts Payable (A/P)

12. MasterCard

13. Visa

14. Loan Payable

15. Sales of Product Income

16. Legal and Professional Fees

17. Advertising

18. Meals and Entertainment

19. Retained Earnings

20. Checking

21. Landscaping Services

22. Pest Control Services

23. Cost of Goods Sold

24. Automobile: Fuel

25. Bank Charges

26. Interest Earned

STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 30 JUNE 2020 2020 2019 (Rupees '000) (Rupees '000) Gross turnover 63,687,754 79,000,314 Less: rebates and discounts (2,243,317) (2,354,731) Less: sales tax and excise duty (24,315,711) (23,044,071) Net turnover 37,128,726 53,601,512 Cost of sales (36,011,992) (37,556,552) Gross profit 1,116,734 16,044,960 Other income 247,618 122,211 Selling and distribution expenses (794,213) (1,339,086) Administrative expenses (579,308) (711,411) Other expenses (16,743) (826,752) Operating (loss) / profit (25,912) 13,289,922 Finance cost (2,151,701) (1,498,473) Share of profit of equity-accounted investees - net of tax 1,671,133 1,454,101 (Loss) / profit before tax (506,480) 13,245,550 Income tax credit / (charge) 555,732 (3,148,265) Profit for the year 49,252 10,097,285 Earnings per share - basic and diluted (Rupees) 0.08 16.93Two married couple En Shamsul and Pn Shamsiah is considering purchasing a house within the Cyber Jaya district. The couple search several property websites and finally found a double storey house that cost RM 350,000. The couple - has only 20% `down payment for the house and will obtain the balance from the bank, The couple is seeking for Islamic home financing and about to make a decision to apply for either BBA home financing or Musharakah Mutanagisah (MM) home financing. The following information is provided to enable you answer questions (i) and (iv):- Tenure of financing - 20 years Profit rate for BBA Home financing - 9 % p.a . Profit Sharing between bank and customer (80 %: 20%) Monthly rental for MM Home financing - RM 1,500 Compute for the following:- . i) Total monthly instalment under BBA (5 marks) ti) Total monthly instalment under MM home financing (5 marks) iii) Additional monthly redemption (5 marks) iv) Customer's share portion for the 1" month and 2"d month under MM home financing (10 marks) v) . . The difference between BBA and MM monthly instalments .(5 marks) [Total: 30 marks]