Question
Additional information: 1. Inventory as at 31 March 2022 was valued at RM15,000. The total amount of interest on loan in the trial balance was
Additional information:
1. Inventory as at 31 March 2022 was valued at RM15,000.
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The total amount of interest on loan in the trial balance was for the period of 12 months starting 1 August 2021.
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RM500 need to be written off as bad debt as one of the credit customer was declared bankrupt and allowance for doubtful debt is to be adjusted to RM750.
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Depreciations for the year are to be provided on yearly basis as follows:
Fixture and Fittings - 10% per annum on cost Motor vehicles - 20% per annum on cost Machinery - 10% per annum on carrying amount
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The owner took goods worth RM500 for his personal use and no record has been made.
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The 3% fixed deposit was invested by the business on 1 April 2021. The interest on fixed deposit was still outstanding on 31 March 2022.
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The following adjustments are to be considered for the period:
The following trial balance was extracted from the books of Aidil Enterprise as at 31 March on23. Required: a. The Statement of Profit or Loss for the year ended 31 March 2022. b. The Statement of Financial Position as at 31 March 2022
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