Question :

Question 1 (CLO 2) The following are the accounts' balances of FNS Sdn. Bhd. at the end of June 2020. Accounts Balances (RM) Sales 302,316 Purchases 194,870 Inventory, 1 July 2019 56,912 Carriage inward 1,291 Carriage outwards 1,255 Sales return and allowances 1,444 Sales discount 1,575 Purchase return and allowances 1,638 Purchase discount 1,160 Advertising expenses 3,494 Rental expenses 4,578 Miscellaneous expenses 5,618 Salaries expenses 10,977 Capital 112,875 Withdrawals 840 Cash at bank 55,650 Accounts receivable 4,620 Motor vehicle 80,850 Accumulated depreciation-Motor vehicle 3,150 Accounts payable 2,835 Additional information as at 30 June 2020: i. Inventory was valued at RM12,450. ii. Utilities accrued was RM525. iii. Rent prepaid was RM1,050. iv. Annual depreciation was calculated for RM3,150. You are required to prepare the following for FNS Sdn. Bhd.: a) Trial Balance as at 30 June 2020 before adjustment. b) Statement of Comprehensive Income for the year ended 30 June 2020. c) Statement of Financial Position as at 30 June 2020