The following trial balance has been drawn up from the accounts of Endpages bookshop for the year  31 December 2021

 

Requred:

Prepare a statement of profit or loss for the year ending 31 December 2021

Prepare a statement of financial  position for the year  31 December 2021

 

 

Transcribed Image Text:

Accounts Opening inventory Sales Debit (RM) Credit(RM) 20,672 449,000 Purchases 312,000 General expenses 8.881 Salaries 54,535 Administration costs 13,123 Insurance 4,535 Rent 9,789 Bad debts 545 Plant 62,000 Equipment 18,000 Accumulated depreciation: Plant 9,500 Accumulated depreciation: Equipment 5,200 Allowance of doubtful debt 280 Trade receivables 10,200 Trade payable 7,800 Bank 8.500 Capital 72,000 Drawings 21,000 543.780 543.780 Normation Accounts Opening inventory Sales Debit (RM) Credit(RM) 20,672 449,000 Purchases 312,000 General expenses 8.881 Salaries 54,535 Administration costs 13,123 Insurance 4,535 Rent 9,789 Bad debts 545 Plant 62,000 Equipment 18,000 Accumulated depreciation: Plant 9,500 Accumulated depreciation: Equipment 5,200 Allowance of doubtful debt 280 Trade receivables 10,200 Trade payable 7,800 Bank 8.500 Capital 72,000 Drawings 21,000 543.780 543.780 Normation

Answer rating: 100% (QA)

Statement of Profit or Loss Items Amount RM Sales 449000 Opening Inventory 20672 Cost of Go... View the full answer