Accounting help ~

Question 5 The following statement of financial position was extracted from the books of Saujana as at 31 December 20x5: of Saujana antn SAUJANA ENTERPRISE Statement of Financial Position as at 31 December 20x5 Particulars Purchases and sales Carriage inwards Carriage outwards Advertising expenses Salesman salaries Land and building Motor vehicles Fixtures and fittings Cash in hand Cash at bank Bad debts Accumulated depreciation-Motor vehicles Accumulated depreciation - Fixtures and fittings Administrative expenses Discounts Accounts receivable Accounts payable Interest received Debit (RM) Credit (RM) 519,000 3,750 7,500 8,100 14,400 453,000 281,100 196,200 30,600 75,000 9,300 885,000 105,000 63,000 40,200 20,100 45,300 22,020 53,400 6,000 FUNDAMENTALS OF FINANCIAL ACCOUNTING Capital Inventory as at 1 January 20xs Insurance Stationery Allowance for doubtful debts Allowance for discount allowable Loan to Mustika Enterprise (8% per annum) Loan from Bank 1 Malaysia Bhd (10% per annum) Selling expenses Returns 650,700 47,100 11,940 4,260 7.500 3,900 105,000 96,000 18,750 9,900 7980 ,900,500 1,900,500 The following additional information need to be considered in the preparation of the final accounts as at 31 December 20x5: 1 Closing inventory as at 31 December 20x5 amounted to RM55,500. 2 Drawings by the owner: Cash Goods RM3,675 Oraungs-Cash RM8,400 DrauicSose 3 Prepaid advertising and administrative expenses were RM2,340 and RM2,490 respectively 4 Accrued: Selling expenses RM3,150 Carriage inwards RM1,200 5 Additional bad debts of RM2,700 is to be written off and allowance for doubtful debts is to be increased to RM11,850. bod debt 6 Allowance for discount allowable is to be adjusted to RM5,100. ecelvoble epreciation for the year is to be charged as follows: % per annum on straight line method (28,00 10% per annum on reducing balance method Motor vehicles 8 Only part of the interest on the loan to Mustika Enterprise has been received and recorded. RM12,000 Fixtures and fittings A loan from Bank IMalaysia Berhad was received on 1 January 20x5. The amount of principal and interest on the loan that had been paid by cheque for the year were and RM9 to prepare a statement of profit or loss and other comprehensive income for 20x5 and a statement of financial position as at that date. 000 respectively: The payment had not been recorded anywhere in the books: ou are required the year ended 31 December