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2. The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader. Cr (RM) 138,078 Trial Balance as at 31
2. The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader. Cr (RM) 138,078 Trial Balance as at 31 May 20X6 Dr (RM) Purchases and Sales 82,350 Carriage 5,144 Drawings 7,800 Rent, rates and insurance 6,622 Postage and stationery 3,001 Advertising 1,330 Salaries and wages 26,420 Bad debts 877 Provision for doubtful debts Accounts Receivable and Accounts 12,120 Payable Cash in hand 177 Cash at bank 1,002 Inventory as at 1 June 20X5 11,927 Equipment: at cost 58,000 accumulated depreciation Capital 216,770 130 6,471 19,000 53,091 216,770 The following additional information as at 31 May 20X6 is available: a) Rent is accrued by RM210. b) Rates have been prepaid by RM880. c) RM2,211 of carriage represents carriage inwards on purchases. d) Equipment is to be depreciated at 15% per annum using the straight line method. e) The provision for doubtful debts to be increased by RM40. f) Inventory at the close of business has been valued at RM13,551
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