The following balances were extracted from the books of MajuJaya Enterprise on 3 1 December 2 0
Fantastic news! We've Found the answer you've been seeking!
Question:
The following balances were extracted from the books of MajuJaya Enterprise on December
Particular RM RM
Capital
Motor vehicles
Fixtures & fittings
Inventory as at January
Provision for doubtful debts
Accumulated depreciation as at January :
Motor vehicles
Fixtures & fittings
fixed deposit
bank loan
Sales
Purchases
Return inwards
Return outwards
Discount allowed
Discount received
Account receivables
Account payables
Carriage inwards
Interest received
Commission received
Salaries
Electricity bills
Custom duty on purchases
Insurances
Maintenance expenses
Drawing
Cash in hand
Cash at bank
Additional information:
Inventory as of December RM
Depreciation for the year ended December has yet to be provided as follows:
a Fixtures & fittings. using straightline method
b Motor vehicles: using reducing balance method.
Electricity bills were paid in advance by RM Meanwhile, the RM commission has not been received yet.
One of the customers Anthony, was declared bankrupt and unable to pay the debt amount of RM
The provision for doubtful debts is to be adjusted to based on remaining account receivables.
RM salaries have not been paid.
Purchases include goods valued at RM that were withdrawn by owner, Azreen for her personal use.
Required:
a Prepare a Statement of Profit or Loss for the year ended December EXCELTABLE FORMAT
b Prepare a Statement of Financial Position as at December EXCEL OR TABLE FORMAT
Posted Date: