Question 1 At 31 January 2020 the following trial balance was extracted from the books of...
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Question 1 At 31 January 2020 the following trial balance was extracted from the books of Razak. Particulars Debit Credit RM RM 101,430 Capital 1 February 2020 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2020: Return inward and return outwards Finance expenses Stock at 1 February 2020 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Vehicles Equipment Debtors and creditors Cash at bank No. i. i. Additional information as at 31 January 2021: Particulars Stock valued at Insurance prepaid Goods taken from stock for own use TOTAL Required: 35,000 80,000 284,680 503,520 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: Vehicles - straight line method Equipment reducing balance method 21,000 35,000 650 18,950 14,880 680,550 680,550 RM 29,750 340 420 2,400 620 30% 25% a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 January 2021. Question 1 At 31 January 2020 the following trial balance was extracted from the books of Razak. Particulars Debit Credit RM RM 101,430 Capital 1 February 2020 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2020: Return inward and return outwards Finance expenses Stock at 1 February 2020 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Vehicles Equipment Debtors and creditors Cash at bank No. i. i. Additional information as at 31 January 2021: Particulars Stock valued at Insurance prepaid Goods taken from stock for own use TOTAL Required: 35,000 80,000 284,680 503,520 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: Vehicles - straight line method Equipment reducing balance method 21,000 35,000 650 18,950 14,880 680,550 680,550 RM 29,750 340 420 2,400 620 30% 25% a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 January 2021.
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