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10. The following is a list of balances obtained from Shamimi Enterprise as at 31 October 20X2. Sales Purchases Returns inwards Returns outwards Carriage inwards
10. The following is a list of balances obtained from Shamimi Enterprise as at 31 October 20X2. Sales Purchases Returns inwards Returns outwards Carriage inwards Carriage outwards Import duties Inventory as at 1 November 20X1 Inventory as at 31 October 20X2 Sundry expenses Salaries Telephone and electricity Insurance Motor expenses Stationery Discount allowed Discount received Allowance for doubtful debts RM 440,000 220,000 17,050 19,800 4,400 3,000 1,100 33,000 44,000 1,500 40,000 6,000 900 2,700 1,300 1,000 600 1,500 174 FINANCIAL ACCOUNTING FOR NUN-ALCOM 2,000 1400 100,540 60,000 15,000 Interest on loan Interest received Land and building Vehicles Furniture Accumulated depreciation Vehicles Furniture Accounts receivable Cash Bank 20,000 500 35,000 930 75,000 3,000 30,000 45,000 Drawings Bank loan Accounts payable Additional information to be taken into consideration: (a) The loan from the bank was taken on 1 November 20X1 and the interest charge is 10% per annum. (b) The allowance for doubtful debts is to be reduced by RM300. (c) Depreciation: Vehicles - 15% p.a. on cost Furniture - 10% p.a. on cost (d) The owner has taken goods worth RM2,000 for her own use and no record was made in her accounts. (e) Insurance expense amounting to RM450 was for the period of 1 March 20X2 to 28 February 20X3. You are required to do the following: O Calculate the amount of capital as at 1 November 20X1. Prepare the statement of profit or loss for the vear ended 31 October 20X2 and a statement of financial position as at that date
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