The following balances were extracted from Alicia's accounts at 31 December 2022. Accounts Debit Credit (RM)...

  

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The following balances were extracted from Alicia's accounts at 31 December 2022. Accounts Debit Credit (RM) (RM) Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salaries Motor vehicles expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 333,954 32,000 14,000 4,000 250,000 28,716 5,238 333,954 Additional information: i. Stock as at 31 December 2022 was RM15,735. ii. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. iii. Unexpired insurance amounting to RM290. iv. Accrued wages and salaries amounting to RM290. v. There was an unpaid account of RM410 for general expenses. vi. Provision to be made for depreciation at the following rates: 10% per annum 20% per annum vii. The provision for doubtful debts is to be reduced to RM4,178. Plant and machinery Motor vehicles Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022. The following balances were extracted from Alicia's accounts at 31 December 2022. Accounts Debit Credit (RM) (RM) Capital at 1 January 2022 Cash drawing Plant and machinery at 1 January 2022 Motor vehicle at 1 January 2022 Accumulated depreciation for plant and machinery Accumulated depreciation for motor vehicle Stock at 1 January 2022 Purchases Sales Accounts receivable Accounts payable Wages and salaries Motor vehicles expenses General expenses Insurance Cash at bank and hand Provision for doubtful debts 3,325 140,000 20,000 28,550 61,000 30,163 18,000 4,900 4,736 2,290 20,990 333,954 32,000 14,000 4,000 250,000 28,716 5,238 333,954 Additional information: i. Stock as at 31 December 2022 was RM15,735. ii. Included in cash drawing is a total of RM500 paid by Alicia for business's electricity expenses. iii. Unexpired insurance amounting to RM290. iv. Accrued wages and salaries amounting to RM290. v. There was an unpaid account of RM410 for general expenses. vi. Provision to be made for depreciation at the following rates: 10% per annum 20% per annum vii. The provision for doubtful debts is to be reduced to RM4,178. Plant and machinery Motor vehicles Required: Prepare the statement of comprehensive income and statement of financial position as at 31 December 2022.

Answer rating: 100% (QA)

To prepare the statement of comprehensive income and statement of financial position as at 31 December 2022 we need to consider the given balances and ... View the full answer