Chapter Financial Statements
D= Debit (RM)
C= Credit (RM)
Premises
D 40,...
Mathematics, 05.05.2020 14:17 daltonduh6218
Chapter Financial Statements
D= Debit (RM)
C= Credit (RM)
Premises
D 40,000
Fixtures and Fittings
D 10,000
Mortgage on premises
C 15,000
Purchases and sales
D 40,300 C 78,500
Debtors and creditors
D 3,400 C 9,000
Motor vehicles
D 21,000
Return inwards and outwards
D 200 C 300
Commission expense and revenue
D 2,700 C 1,040
Carriage inward
D 1,750
Duties on purchases
D 650
Stock ( 1 January 2020)
D 8,000
Carriage outwards
D 3,260
Wages
D 5,900
Insurance
D 350
Rent
C 3,000
Bank-overdraft
C 3,650
Cash
D 840
Capital
C 28,560
Drawings
D 700
D 139,050 C 139,050
Stock on 31 December 2020 was valued at RM12,000
You are required to prepare
1) Profit and Loss Account for the year ended 31 December 2020
2) Balance Sheet as at 31 December 2020
Answers: 2
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