Prepare the Statement of Profit and Loss. October 1st, 2020 3rd 4th 5th 7th Noah started business

 Prepare the Statement of Profit and Loss.

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October 1st, 2020 3rd 4th 5th 7th Noah started business with a capital of RM80,000 Bought goods from Karl on credit RM20,000 : Sold goods to Darrsh RM25,000 Cash purchases RM25,000 Cash sales RM15,000 9th Goods retuned to Karl RM2,000 : : 10th Bought furniture for RM15,000 : Cash paid to Karl RM12,000 11th 12th 14th 15th Cash received from Darrsh RM12,000 : 16th Took loan from Mike RM30,000 17th Salary paid RM5,000 18th Bought stationery for RM1,000 19th : Amount paid to Mike on loan account RM18,000 20th Interest received RM4,000 Goods returned by Darrsh RM3,000 Goods taken by Noah for personal use RM3,000 October 1st, 2020 3rd 4th 5th 7th Noah started business with a capital of RM80,000 Bought goods from Karl on credit RM20,000 : Sold goods to Darrsh RM25,000 Cash purchases RM25,000 Cash sales RM15,000 9th Goods retuned to Karl RM2,000 : : 10th Bought furniture for RM15,000 : Cash paid to Karl RM12,000 11th 12th 14th 15th Cash received from Darrsh RM12,000 : 16th Took loan from Mike RM30,000 17th Salary paid RM5,000 18th Bought stationery for RM1,000 19th : Amount paid to Mike on loan account RM18,000 20th Interest received RM4,000 Goods returned by Darrsh RM3,000 Goods taken by Noah for personal use RM3,000

Answer rating: 100% (QA)

Oct 1 Cash 80000 Noah Capital 80000 Oct 3 Merchandise Inventory 20000 Accounts Payable 20000 Oct 4 Accounts Receivable 25000 Sales 25000 Oct 5 Merchan... View the full answer